iberdrola launched into new markets. The utility has announced the construction of a floating photovoltaic power plant in Brazil. This will be the first facility of this type for the company, which has extensive experience in offshore wind power worldwide, and is analyzing the possibility of expanding this technology to other parts of the world.

With this operation, Iberdrola enters into a new branch of renewable energy that is still unknown, but with the promise of much to say in the future. It’s about floating photovoltaic energy. Namely, utilizing reservoirs and swamps to install photovoltaic generators on water. The first installation took place in Japan in 2017 and is already operational technology in the UK, Korea or China. in Portugal, EDP ​​​​in July announced the largest floating solar park in Europe

In Spain, which is the EU country with the most dams, The Ministry of Ecology Transition is developing regulations that encourage the construction of floating photovoltaic power plants. After drafting the Royal Decree Act to regulate these projects and obtaining approval from the National Water Council, Teresa Ribera’s department has approved a grant of 200 million to promote this technology, including in PERTE renewable energy. New regulations limit concessions for these technologies in Spain and stipulate that they can only occupy between 5% and 20% of artificially constructed reservoirs and marshes.

Acciona is the first company to launch floating photovoltaics in Spain. It has a 1.1 MW factory in Cáceres. Iberdrola, as the first Spanish electricity company, doesn’t want to miss this train. Dan has launched this first pilot project in Brazil, through its subsidiary in the country Neolectra, with the aim of studying its expansion to other geographies in the future. The company run by Jose Ignacio Sánchez Galán has extensive experience in offshore wind projects, which can now be extended to photovoltaics. In Spain operates three hydroelectric power stations that can be utilized.

The new plant that Iberdrola is planning will be 630 kilowatts in power and under construction, which Iberdrola will undertake through its subsidiary in the state of Rio de Janeiro neoenergywill invest two million euros, as the company has informed in a press release.

The project will have 940 panels and will be built above the water of the Xaréu dam, on the Fernando de Noronha island, which is recognized by Unesco as a World Natural Heritage and where Iberdrola is developing sustainable energy solutions. It participates in this project in partnership with Companhia Pernambucana de Saneamiento (Compesa), which operates a water and sewage distribution network on Fernando de Noronha Island, and has the support of the Energy Efficiency Program regulated by Brazil’s National Electric Power Agency (Anel).

The plant is part of a larger Iberdrola project in the area to provide renewable solutions on these islands in the Atlantic. These include the Vacaria solar power plant, which is designed to supply the island’s electric cars, as well as two others, Noronha I and II, which meet 10% of the island’s energy needs.

Iberdrola’s movement lies in a moment of hyperactivity of the renewable energy group. The company has several parallel processes for onboarding partners to its newest projects as a way to finance its growth in this area. The most advanced process is the sale of 49% of its portfolio in Spain, which is called Project Romeoin which Norges were favourites, despite offers from a consortium formed by Arcelor and Danish fund CIP and Greencoat fund, from Schroders.

Additionally, in September they sold another 49% of their Vikinger North Sea wind farm to EIP. And now looking to do the same with another offshore wind facility in the area, Baltic Eagle. It is also seeking partners for its macro portfolio in Scotland, East Anglia.