Capital Energy moves forward in developing fourth photovoltaic plant in Madrid with nearly 260 MW at Gasset
Ministry publishes application for solar facility authorisation to secure enterprise’s renewables project in the region
- Commissioning and associated evacuation infrastructures in Móstoles, Alcorcón, Fuenlabrada, Griñón, Humanes de Madrid, Arroyomolinos and Moraleja de Enmedio will entail nearly €110 Mn in investment
- With nearly 450,000 solar panels, Gasset will supply clean electricity to over 200,000 Madrid homes a year and prevent 190,000+ tonnes of CO2 emissions
- Capital Energy already developing three other photovoltaic plants in Madrid -La Vega, Albares and Cruz- with combined installed power of 305 megawatts (MW) and commissioning set to involve €126 Mn investment
Madrid, 20 December 2021.- Capital Energy, the Spanish energy enterprise founded in 2002 that aims to become the first vertically integrated 100% renewable energy operator on the Iberian peninsula, continues to underpin its pioneering renewables project in the Community of Madrid.
The Ministry for the Ecological Transition and Demographic Challenge (Miterd) has just published the application to authorise[1] the company’s fourth photovoltaic plant in the region, Gasset, with a capacity of 258 megawatts (MW). This renewable facility will have almost 450,000 solar panels and be able to produce more than 500,000 megawatt hours (MWh) per year, enough to cover the clean electricity consumption of over 200,000 Madrid homes. It will also prevent the annual emission into the atmosphere of 190,000+ tonnes of CO2.
Commissioning of the plant and its evacuation infrastructures in Móstoles, Alcorcón, Fuenlabrada, Griñón, Humanes de Madrid, Arroyomolinos and Moraleja de Enmedio will entail an investment of around €110 Mn and create close to 400 jobs during peak work periods. In the operation and maintenance phase, Capital Energy will provide stable, quality employment to some 13 local workers.
Gasset will make a lifetime contribution to GDP in the order of €840,000 per year and an annual tax contribution to the local coffers of more than €760,000. A one-off payment of the ICIO tax on building, installations and other works possibly in excess of €3.5 Mn will be added to this recurring amount.
Unprecedented project in Community of Madrid
Gasset joins La Vega, Albares and Cruz, the three photovoltaic plants the group is already developing in the Community of Madrid and which will be among the first launched in the region. Located in the municipalities of Fuenlabrada, Humanes de Madrid, Parla, Pinto and Torrejón de Velasco, the facilities will have a combined power of 305 MW and their commissioning entail an investment north of €126 Mn.
With nearly 529,500 solar panels, the plants will be able to produce more than 624,500 MWh of clean electricity per year, equivalent to the consumption of nearly 260,000 Madrid homes, and prevent annual emission into the atmosphere of some 250,000 tonnes of CO2.
In line with its commitment to a green and fair energy transition, Capital Energy currently has a wind and solar portfolio on the Iberian Peninsula of around 35 gigawatts (GW) of power, with more than 8.7 GW already awarded grid access permits.
Following the launch of its retail arm in the final quarter of 2020, Capital Energy has delivered on its strategic goal of operating across the entire renewable energy value chain: from design, where it has a consolidated position thanks to its nearly 20-year track record, to construction, production, storage, operation and supply.
The aim of the company, which has more than 390 employees in 16 offices around Spain and Portugal, is to bring the 100% renewable energy it is now producing at its facilities to the end consumer
[1] Prior Administrative Authorisation and Environmental Impact Statement.