Iberdrola has been awarded a grid link in the Algarve, Portugal for a hybrid photovoltaic project, with an installed capacity of 83 megawatts (MW) and a storage capacity of 14 MW, which will stabilize the system and control the discharge to the grid at times of high demand.
With this latest award, Iberdrola will have a total of 1,519 MW of renewable energy capacity in Portugal: 1,158 MW of hydroelectric power, 255 MW of photovoltaic energy, 14 MW of battery storage and 92 MW of installed wind energy in operation.
With an investment of more than €1.5 billion, the project involves the building of three dams and three power plants (Gouvães, Daivões and Alto Tâmega) with a total capacity of 1,158 MW, including a pumping station, which will become one of the largest energy storage facilities in Portugal.
In addition , the company is continuing to build 172 MW of solar power in the Algarve and Tagus Valley regions in August 2019 and already operates three wind farms with a combined capacity of 92 MW, with an investment of €200 million.
With the award of the Tâmega complex and the latest solar capacity, Iberdrola which has reduced its emissions in Europe by 75 percent since 2000 – contributes to Portugal’s pledge to carbon neutrality by 2050.
In the Portuguese electricity sector, Iberdrola is leading the industrial-large consumer segment, with a market share of 28 percent while serving about 400,000 electricity and gas customers.
The company also has the third-largest market share of electricity customers in the country (5.9 percent) and the second-largest market share (5.7 percent). In Portugal, Iberdrola contributes with a creative and sustainable approach, offering 100 percent renewable energy to its customers.