Energy giant Iberdrola continues its renewable energy projects in Portugal, installing two photovoltaic complexes in the city of Albufeira. The company has begun work on the Montechoro I and II plants, which will have a total installed capacity of 37 MW and will avoid the emission of 42,000 tons of CO2 into the atmosphere each year.
Montechoro I and II: a significant contribution to green energy
Both Montechoro I and II complexes will be equipped with more than 64,500 bifacial panels, which allow for greater production without increasing the number of panels. Together, they will be able to generate 20,000 MWh per year of indigenous green energy, providing power to approximately 15,000 homes, the equivalent of half the population of the city of Albufeira. The project represents an investment of more than 28 million euros and is expected to create up to 200 jobs, mainly for local workers.
Iberdrola and Portugal: an energy partnership
Portugal is a key market for Iberdrola. The company plans to invest 3 billion euros in wind and solar energy in Portugal over the next few years. Among the projects planned is the construction of the Fernando Pessoa photovoltaic plant, which will be the largest photovoltaic project in Europe and the fifth largest in the world, with a capacity of 1,200 MW. Located in the municipality of Santiago de Cacém, the plant is expected to go into operation in 2025, providing clean, cheap and locally produced energy to cover the annual needs of 430,000 homes.
In addition to this, Iberdrola won eight PV projects with a total capacity of 270 MW in auctions organized by Portugal in 2019 and 2020, including the Alcochete, Conde and Algeruz II PV projects, as well as the Carregado and Estoi solar power plants, which will come on stream in 2024.
The group also plans to build a wind farm linked to the mega hydroelectric pumped-storage plant inaugurated in Alto Tâmega, in northern Portugal. The Tâmega Gigabattery is the largest clean energy initiative in the country’s history, with a combined capacity of 1,158 MW that can store the energy consumed by eleven million people per day.
Environmental and social impact
Iberdrola’s renewable energy projects have a significant impact on the environment and employment. Photovoltaic and wind power plants reduce CO2 emissions into the atmosphere while producing local green energy to power thousands of homes. The Spanish company’s initiatives also have a positive impact on employment, creating hundreds of local jobs in the construction and operation of the facilities.
By investing billions of euros in wind and solar energy in Portugal over the next few years, Iberdrola is contributing to the country’s energy transition to more sustainable and environmentally friendly production, while boosting the local economy.
