Capital Energy has signed the first agreement with the A Cañiza Town Council linked to its Territories Project in the province of Pontevedra

Following the agreement, conditional on the development of the Alto do Ceo wind farm, both parties are already considering a number of beneficial proposals for the people of A Cañiza 

• 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 
• Additionally, and provided that Alto do Ceo is declared a priority business initiative by the Xunta de Galicia, the company will commit 2.5% of the wind farm’s revenue to carrying out social initiatives for the residents of this municipality, going beyond the regulations stipulated by the regional government in that regard 
• The construction of Alto do Ceo will mobilise an investment of 16 million euros, creating more than 60 jobs during peak construction periods and generating a fiscal impact of around 400,000 euros in the local coffers 

Pontevedra, 3 May 2023.- Capital Energy, a Spanish energy company founded more than two decades ago with the aim of becoming the Iberian Peninsula’s first vertically integrated, fully renewable operator, once again demonstrates its commitment to the socio-economic development of Galicia, a key region for the consolidation of its clean energy project. 

The company has thereby secured a new partnership agreement with the A Cañiza Town Council linked to its Territories Project in the region, the first signed in the province of Pontevedra. 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 this agreement, from the construction of its Alto do Ceo wind farm, the renewable energy group undertakes to foster various actions agreed between the parties and which will be adapted to local needs. The initiatives 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, a number of beneficial proposals are already being weighed up for the local residents, such as boosting local commerce and expanding the cultural offer. Likewise, Capital Energy will continue to collaborate with the local government 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 A Cañiza, through actions that guarantee an effective improvement of the environment and the quality of life of their residents. 

Additionally, and provided that the project is declared a priority business initiative by the Xunta de Galicia, the company will commit 2.5% of Alto do Ceo’s revenue to developing these and other initiatives of a social nature for the residents of A Cañicá, going beyond the regulations stipulated by the regional government in that regard, which set this amount only for the consolidated benefits of this type of facility. 

Alto do Ceo will have an installed power of 12 megawatts (MW) and will generate 36,000 megawatt hours (MWh) each year, which is sufficient to supply the consumption of over 14,000 Galician households with clean electricity. It will also avoid the atmospheric emission of 13,000 tonnes of CO₂.  

The commissioning of this wind farm will entail an investment of around 16 million euros and will create some 60 direct jobs at the peak of the construction period. During the operation and maintenance phase, it is expected to provide stable, quality employment for around half a dozen local professionals, both directly and indirectly.  

Throughout its useful life, Alto do Ceo will contribute roughly 300,000 euros each year to GDP and will bring in around 25,000 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 400,000 euros.