Capital Energy strengthens its social commitment to Castile and León by signing a new agreement pursuant to its Territories Project

It will promote with the Municipal Government of Cubo de la Solana beneficial actions for the residents of the municipality during the construction and operation of the Corpal wind farm 

• 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 the regions, harnessing local talent and nurturing their social, industrial and business fabric
• Corpal will have a capacity of 156 MW, will produce enough clean electricity to supply around 157,000 Castilian-Leonese homes, will provide permanent employment during the operation phase to around 20 workers in the area and will have an annual economic impact on the local coffers of more than 650,000 euros

Soria, 27 June 2022.- Capital Energy, a Spanish energy company founded two decades ago with the aim of becoming the first vertically-integrated, 100%-renewable energy company in the Iberian Peninsula, further evidences its commitment to the socio-economic development of Castile and León, a key region for the implementation of its clean energy project.

The company and the Municipal Government of Cubo de la Solana have therefore signed the second collaboration agreement in the region –the first in the province of Soria– pursuant to its Territories Project. The project combines Capital Energy’s contribution to the decarbonisation of the economy and the transformation of the energy model with its desire to help foster growth in the different regions, harnessing local talent and nurturing each area’s social, industrial and business fabric.

Through this agreement, Capital Energy undertakes to foster various actions from the construction of the Corpal wind farm, agreed between the two parties and tailored to the needs of the aforementioned Sorian locality. 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.

In fact, some beneficial initiatives are already being considered for the inhabitants of Cubo de la Solana, such as the implementation of different actions that enhance the cultural offering and municipal social and health care or the establishment of an energy community advised by the company and that optimises the electricity consumption of the public lighting, the town hall, the health centre, the pharmacy and the community centre.

Likewise, the renewable energy group will continue to collaborate with the Municipal Government 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 re-affirms all parties’ commitment to contribute to the sustainable development of Cubo de la Solana through actions that effectively improve the quality of life of the residents and the surroundings.

Corpal will have a capacity of 156 megawatts (MW) and will be able to produce more than 415,000 megawatts/hour (MWh) of clean electricity each year, enough to satisfy the energy consumption of around 157,000 Castilian-Leonese homes. It will also avoid the atmospheric emission of around 154,000 annual tonnes of CO₂.

The construction of this wind farm and its power evacuation infrastructure, which will be located in the municipalities of Tejado, Cubo de la Solana, Borjabad, Gómara, Buberos, Almenar de Soria, Pinilla del Campo, Noviercas and Ólvega, will entail an investment of more than 200 million euros and create 700 jobs at the peak of the construction period. During the operating and maintenance phase, it is expected to provide permanent employment to some 20 professionals from the area and it will also generate 15 indirect jobs.

Moreover, this renewable asset will add more than 650,000 euros to the local coffers every year throughout its useful life and will contribute more than 3.6 million euros to GDP per year. In addition to this recurring sum is the one-off payment of local building tax (ICIO), which will amount to over 4.5 million 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.

Through these actions, Capital Energy shows that it aims to accompany the development of its renewable energy projects in Spain and Portugal with the launch of social action and environmental programmes, adapted to local needs, in order to maximise its contribution to the socio-economic progress of all the territories where it operates.

About Capital Energy

In line 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 amounting to more than 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 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.