Capital Energy has contracted three new Territories Projects in Palencia with the town councils of Antigüedad, Baltanás and Valle de Cerrato

The agreements are subject to the development of Canales Sur, the company’s second wind farm in the province, with a capacity of 120 MW

• This initiative combines the company’s contribution to the decarbonisation of the economy and the transformation of the energy model, by implementing renewable energy facilities, with its desire to help foster the development of the regions, harnessing local talent and nurturing their social, industrial and business fabric
• The construction of Canales Sur, which already holds the relevant environmental permits, will mobilise an investment of approximately 145 million euros and will create approximately 570 jobs at the peak of the construction works
• Companies and councils are already weighing up some beneficial proposals for the residents of these towns in Palencia, such as improving the energy efficiency of municipal buildings, in the case of Baltanás and Valle de Cerrato, or enhancing water resource management, in the case of Antigüedad

Palencia, 5 April 2023.- Capital Energy, a Spanish energy company founded two decades ago with the aim of becoming the Iberian Peninsula’s first vertically integrated, fully renewable operator, strengthens its commitment to the socio-economic development of Castile and León, a key region for the consolidation of its clean energy project.

Thus, the company has entered into three new partnership agreements with the town councils of Antigüedad, Baltanás and Valle de Cerrato as part of its Territories Project in the province of Palencia. This initiative combines Capital Energy’s contribution to the decarbonisation of the economy and the transformation of the energy model with its desire to help promote the development of different territories, harnessing local talent and nurturing their social, industrial and business fabric.

Under these agreements, since the construction of the Canales Sur wind farm in the abovementioned municipalities —the second in Palencia after Las Tadeas—, the renewable energy group has undertaken to implement various actions agreed between the parties and which will be adapted to local needs. Both interventions will be implemented within the framework of specific action lines, including the improvement of infrastructure and services, connectivity and digitalisation, protection of artistic and cultural heritage, education, health and socio-occupational integration of disadvantaged groups.

In fact, some beneficial proposals are already being weighed up for the residents of these towns in Palencia, such as improving the energy efficiency of municipal buildings, in the case of Baltanás and Valle de Cerrato, or enhancing water resource management, and refurbishing the old people’s home, in the case of Antigüedad.

Likewise, Capital Energy will continue to collaborate with local governments in the operating and maintenance phase of this renewable asset, as they will continue to carry out initiatives that fulfil the aforementioned requirements. These agreements re-affirm all the parties’ commitment to contribute to the sustainable development of these municipalities, through actions that guarantee an effective improvement of the environment and the quality of life of their residents.

Canales Sur, which already holds the Environmental Impact Statement (DIA) issued by the Ministry for Ecological Transition and the Demographic Challenge (Miterd), will have a processed power of 120 megawatts (MW) and will generate more than 360,000 megawatt hours (MWh) per year, which is sufficient to supply upwards of 140,000 households in Castile and León with clean electricity. It will also avoid the emission of approximately 135,000 tonnes of CO₂.

The commissioning of this wind farm will entail an investment of around 145 million euros and will create some 570 direct jobs at the peak of the construction period. During the operation and maintenance phase, it is expected to provide stable, quality employment for 18 local professionals and to create around 14 indirect jobs.

Throughout its useful life, Canales Sur will contribute upwards of 3 million euros per year to GDP and will bring in more than 500,000 euros to the local coffers. In addition to this recurring sum is the one-off payment of local building tax (ICIO) and other taxes, which will be around 1.6 million euros.