Capital Energy signs the first agreement in Castile and Leon linked to its Territories Project

It has signed the agreement with the municipal governments of Paredes de Nava and Cardeñosa de Volpejera, where it operates the Las Tadeas wind farm and is developing a solar plant 

• This initiative combines the company’s contribution to the decarbonisation of the economy and the transformation of the energy model with its desire to help foster the development of Spain’s regions, harnessing local talent and nurturing their social, industrial and business fabric
• Las Tadeas has a capacity of 39 MW, generates enough clean electricity to supply around 52,000 households in Castile and Leon, provides permanent employment for 10 local professionals and has an annual economic impact on the regional and local coffers (IBI property tax and IAE tax on economic activities) of more than 330,000 euros

Palencia, 17 May 2022.- Capital Energy, the Spanish energy company founded two decades ago aiming to become the first vertically-integrated, 100%-renewable energy operator in the Iberian Peninsula, takes a step forward in its commitment to the socio-economic development of Castile and Leon, spearheading its clean energy project.

The company has signed the region’s first collaboration agreement with the municipal governments of Paredes de Nava and Cardeñosa de Volpejera, where it already operates the Las Tadeas wind farm, within the framework of its Territories Project, combining its contribution to the decarbonisation of the economy and the transformation of the energy model with its desire to help foster the development of Spain’s regions, harnessing local talent and nurturing their social, industrial and business fabric.

Through this agreement, Capital Energy undertakes to promote, commencing with the construction of a 49.7-megawatt (MW) photovoltaic plant that it is developing on land adjacent to Las Tadeas, various actions agreed by both parties and tailored to the needs of each municipality. These 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.

Indeed, some initiatives to benefit the residents of Paredes de Nava are already in the pipeline, such as measures aimed at promoting the Performing Arts Centre and the Story and Science Museum or the implementation of projects linked to agri-food innovation, and those of Cardeñosa de Volpejera, where the council plans to effect repairs to the town’s paving.

Likewise, the renewable energy group will continue to collaborate with local governments in the operating and maintenance phase of the renewable asset, as they will continue to carry out initiatives that fulfil the aforementioned requirements. This agreement underscores the parties’ commitment to contributing to the sustainable development of Paredes de Nava and Cardeñosa de Volpejera through actions that effectively improve the quality of life of the residents and the surrounding community.

Las Tadeas has an installed capacity of 39 MW. Its 11 Siemens Gamesa SG 132 wind turbines are capable of producing around 138,000 megawatt hours (MWh) of clean energy per year, equivalent to the consumption of almost 52,000 households in Castile and Leon, and of avoiding annual atmospheric emissions of around 55,000 tonnes of CO₂.

In addition, it provides permanent employment for 10 local professionals tasked with operation and maintenance work. Notably, the plant has an annual economic impact on regional and local coffers (IBI property tax and IAE tax on economic activities) of more than 330,000 euros. In addition to this recurring sum is the one-off payment of local building tax (ICIO), which amounted to 850,000 euros.

The Territories Project, differential value

Through the Territories Project, Capital Energy aims to articulate its commitment to sustainable development, become a good neighbour in the regions where it is present and contribute to their social and economic growth.

To achieve this, the Company undertakes to allocate specific finance during the construction and operation phases of its renewable assets to the materialisation of actions agreed with the various local stakeholders. Based on this differential approach, the group will consider the particular characteristics and needs of each of the regions when selecting these initiatives.

These actions show Capital Energy’s commitment to accompanying the implementation of its renewable energy projects in Spain and Portugal with the launch of social and environmental action programmes tailored to local needs, to maximise its contribution to the socio-economic progress of all the territories where it operates.

About Capital Energy

In keeping with its commitment to the Green and Fair Energy Transition, Capital Energy currently has a portfolio of wind and solar energy projects on the Iberian Peninsula exceeding 30 gigawatts (GW) of power, for which over 8 GW already have grid access licences granted.

Capital Energy reached its strategic goal of being present throughout the entire renewable energy generation value chain: from promotion, where the company has a consolidated position thanks to its nearly 20-year history, through to construction, production, storage, operation and supply. The company has 15 offices in Spain and Portugal, where around 360 employees work.