Iberdrola has completed the construction of the 500 MW Núñez de Balboa project solar PV project in the municipalities of Usagre, Hinojosa del Valle and Bienvenida in the Badajóz province, in Extremadura (Spain). The company has already received permission for start-up and energisation tests. Power generation is scheduled to begin in the first quarter of 2020. The €290m project received financial support from the European Investment Bank (EIB) (€145m) and the Instituto de Crédito Oficial (ICO) (€140m) in July 2019.
The project is part of Iberdrola's plans to commission 2,000 MW of solar and wind power in Extremadura by 2022, which also entails the Ceclavín, Arenales and Campo Arañuelo I and II solar PV projects. The company plans to install 3 GW of new renewable energy capacity in Spain by 2022 and 10 GW by 2030. For this purpose, Iberdrola will invest up to €34bn over the 2018-2022 period, of which €13bn for renewable energy projects.
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