The Israeli company Enlight Renewable Energy has reached financial close for the 312 MW Gecama wind power project in Spain. Enlight, which obtained a €320m loan from two Spanish banks, Banco de Sabadell and Bankia, will invest €115m in project, holding a 72% stake. The remaining capital will be completed by project partners Phoenix and Menora Mivtachim. The Gecama wind project will consist of Nordex wind turbines and is expected to enter operation in 2022. The project will sell electricity on a full merchant basis.
According to the Spanish power transmission system operator Red Eléctrica de España (REE), Spain added nearly 6.5 GW of new renewable power capacity in 2019 (6,456 MW), corresponding to a 13% increase in the renewable capacity. During 2019, 93 new solar PV power plants added 3,975 MW, while 86 new wind projects added 2,319 MW and 10 other renewable projects added 162 MW. Most of the new renewable capacity came from auctions held in 2017 (5,689 MW).
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