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Iberdrola is stepping up its investment in renewables in Castilla y León

Iberdrola is stepping up its strategy for the consolidation of an energy model for the future with a boost in its renewables investments in Castilla y León. The company's plans will contribute towards the green recovery and create opportunities for sustainable economic growth in the area, and the transformation of the Velilla region.

Iberdrola is to develop more than 1,800 MW in the community over the coming years in renewable projects - wind and photovoltaic - for which it will allocate investments in excess of €1.3bn. This volume of resources will galvanise the industrial fabric and create 18,000 jobs, according to estimates by the National Integrated Energy and Climate Plan (PNIEC).

In Velilla, the company will build the largest photovoltaic plant in the region, with a total of 400 MW of installed capacity, making it also one of the largest in Spain. These actions will involve an investment of €300m and, according to calculations used by the PNIEC, create over 4,000 jobs.

Its transformation plan in the area also includes investments in smart grids and sustainable mobility, the installation of a waste assessment plant, training programmes and the creation of a Civic Innovation Platform to incentivise entrepreneurship in the region. The dismantling work for the thermal plant over the next four and a half years will allow collaboration with local suppliers to continue. Their involvement in these tasks will constitute greater volume than that enjoyed at the moment.

Iberdrola's strategy for the transformation of the Velilla municipality hinges on three points: investment in 100% renewable projects, energising of the business fabric and local employment based on green principles, and support for local enterprise.

Iberdrola has over 650 MW of renewable energy under construction and in the pipeline in the region, in wind and photovoltaic projects. The company has just begun work on the Herrera wind power complex, with the Spanish market's most powerful wind turbines to date, and the Fuenteblanca plant; and is working on the Buniel and Valdemoro wind power schemes - whose164 MW of power make them one of the company's and the nation's biggest - as well as three photovoltaic plants of over 400 MW, including a solar plant in Ciudad Rodrigo.

Additionally, Iberdrola is backing a renewables investment plan in the area with the development of a portfolio of wind power and photovoltaic projects currently totalling more than 1,100 MW, the plans for which will begin this year for roll-out from 2022.

In Castilla y León, Iberdrola has been leading the field for over 15 years in its support for renewable energy, with 5,100 MW of wind and hydro power in operation, making this the region with the most "green" power installed by the company.

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