Otero photovoltaic plant
Iberdrola develops Europe's second-largest photovoltaic plant
Iberdrola projects Photovoltaic energy
Iberdrola has begun proceedings to develop the Otero photovoltaic plant, which, with installed capacity of 505 MW, will be the largest in Castilla y León (Spain) and the second largest in Europe. The plant will be built in the municipalities of Marazuela, Marazoleja and Anaya, in the province of Segovia, and represents an investment of nearly €220 million.
Iberdrola group continues to lead the promotion of high-capacity renewable projects. After the commissioning of Núñez de Balboa (500 MW), the largest photovoltaic plant currently operating in Europe, and the start of the implementation of the Francisco Pizarro project (590 MW), the company is now starting the procedures for developing the Otero plant, with 505 MW of power.
The project, which will involve an investment of almost 220 million euros, will have a significant local component, which will contribute to boosting the economy and employment in Castilla y León, particularly in the municipalities of Marazuela, Marazoleja and Anaya (Segovia), where the plant will be located. Industrial suppliers will be involved in its development and up to 1,100 people will work in peak periods. The company has also grouped land from 150 local owners, who will also benefit.
Once in operation, the Otero photovoltaic plant will generate enough clean energy to supply 290,000 homes and will prevent the emission of 182,000 tonnes of CO2 per year into the atmosphere.
Iberdrola, world leader in renewable energies
At Iberdrola, we decided to commit to renewable energies more than two decades ago as a fundamental pillar on which to build our safe, clean and competitive business model. Thanks to this vision, we are today world leaders in renewable energies, reaching 41,246 MW of renewables in operation by the end of the first half of 2023.
This commitment is reflected in our record investment plan of €47 billion in the period 2023-2025, of which we will allocate 17,000 million euros to the renewables business. With these investments, we will increase our installed renewable capacity by 12,100 MW to 52,000 MW by 2025 —6,300 MW of photovoltaic, 3,100 MW of onshore wind, 1,800 MW of offshore, 700 MW of batteries and 200 MW of hydro.