Capital Energy and Isastur sign a framework collaboration agreement to strengthen their industry relations

• The Asturian infrastructure group, which has been providing technical services associated to the development and implementation of renewable projects for the electrical company, will have new business possibilities by making use of the existing synergies between both companies.   

Oviedo, 15 June 2021.- Capital Energy, a Spanish energy company founded in 2002 with the aim of becoming the first vertically-integrated 100% renewable energy operator in the Iberian Peninsula, and the Asturian group Isastur, specialising in infrastructure construction for the energy sector, have signed a collaboration agreement, the main goal of which is to strengthen their current industrial relations.

This agreement, signed within the framework of Capital Energy's commitment to the socio-economic progress of all the regions where it carries out its activities, opens the door to new business possibilities for Isastur, which until now has been providing the electricity company with technical services associated with the development and implementation of renewable energy projects.

The collaboration agreement contemplates that, given Capital Energy’s increasing need to hire suppliers due to the progress on its renewable energy project portfolio, and taking advantage of the synergies between both companies, Isastur will have the possibility to submit tenders to perform work pertaining to these energy installations.

Óscar Page, Capital Energy's director of Industrial Participations and Partnerships, has stated that “this agreement with Isastur is part of our Sustainability Strategy, one of the main pillars of which is the socio-economic and environmental development of the regions by promoting the local industry and job creation, in this case in the Principality of Asturias”.

Alejandro Sánchez, Isastur’s general director, pointed out that “for Isastur this agreement means the consolidation of a relationship that until now was limited to specific projects, strengthening our position as a leading supplier for Capital Energy in Asturias”.

Capital Energy's firm commitment to Asturias

Capital Energy considers Asturias as a key region for the development of its ambitious clean energy project. The company already has 29 wind projects under development in the region, which together add up to almost 1,200 megawatts (MW) of power. Over half of these are located in the areas of influence of the fair transition agreements.

The construction, start up and subsequent operation of this portfolio could create around 6,500 jobs annually in the construction phase and around 230 jobs in the generation phase, along with potential income for the municipal and regional coffers of more than €37,000,000 during the execution of works and more than €6,000,000 per annum during the service life of the facilities.

The Company has already begun work on its first Asturian wind farm, Buseco, located in the municipalities of Tineo, Villayón and Valdés, which, with an installed capacity of 50 MW, will entail an investment of around €51,000,000 and will be capable of supplying clean energy to 54,000 homes in the region.

Capital Energy has been recognised as the Best Company to Work at in Asturias, and placed in the Ranking of Best Workplaces Asturias 2021 by Great Place to Work.

About Isastur

Isastur is a company that was founded in 1978 by Asturian entrepreneurs and professionals, and today is present in 16 countries and develops projects in 28. It specialises in creating infrastructures that are mainly related to the energy sector and it currently employs over 1,500 highly-qualified professionals.

In the last 10 years, Isastur has considerably increased its ties to renewable energy, participating in the construction of wind farms, over 2,500 MW in several countries, solar farms, over 1,500 MW, thermosolar plants, biomass plants and co-generation.

About Capital Energy

Capital Energy is a Spanish energy company founded in 2002 with the aim of becoming the first vertically-integrated 100% renewable energy operator in the Iberian Peninsula. In line with its commitment to the decarbonisation of the energy model, it currently has a portfolio of wind and solar projects totalling around 38 gigawatts (GW) of power, of which over 8.5 GW have been awarded grid access permits.

Thanks to the launch of its retail arm in the final quarter of 2020, Capital Energy reached its strategic aim of being present on the entire renewable energy value chain: from development, where, given its 20-year history, the Company has a consolidated position, to construction, production, storage, operation and supply.

The aim of the Company, which has grown from 30 employees to more than 370 in the last three years, distributed throughout 14 offices in Spain and Portugal, is to deliver to the end consumer the 100%-renewable energy that it is already producing at its facilities.