Iberdrola continues to make progress with its investment strategy in the Iberian Peninsula with the commissioning of the Algeruz II photovoltaic plant, the group's first facility of this type in Portugal.The plant has more than 50,500 fixed, monofacial photovoltaic modules, which will generate enough clean energy to supply more than 11,000 homes and prevent the emission of 13,400 tonnes of CO2 into the atmosphere per year.The project has involved an investment of EUR 17.8 millionIberdrola was the largest successful bidder in terms of number of lots in the 2019 auction in Portugal with a total of 7 PV projects, three of which are under construction and are expected to enter commercial operation during the year. These are the Conde (13.51 MW), Alcochete I (32.89 MW) and Alcochete II (12.72 MW) PV plants, also located in the Setúbal district. The Alcochete I and II projects will have bifacial technology that maximises energy production and reduces the average cost of electricity by 16%.In addition, the Montechoro I (11.57 MW), Montechoro II (24.95 MW) and Carregado (64.1 MW) projects, awarded in the same auction, are in the process of obtaining the construction licence and are scheduled to be commissioned in 2023, at which time Iberdrola's PV capacity in Portugal will total 187 MW.
Iberdrola continues to make progress with its investment strategy in the Iberian Peninsula with the commissioning of the Algeruz II photovoltaic plant, the group's first facility of this type in Portugal.The plant has more than 50,500 fixed, monofacial photovoltaic modules, which will generate enough clean energy to supply more than 11,000 homes and prevent the emission of 13,400 tonnes of CO2 into the atmosphere per year.The project has involved an investment of EUR 17.8 millionIberdrola was the largest successful bidder in terms of number of lots in the 2019 auction in Portugal with a total of 7 PV projects, three of which are under construction and are expected to enter commercial operation during the year. These are the Conde (13.51 MW), Alcochete I (32.89 MW) and Alcochete II (12.72 MW) PV plants, also located in the Setúbal district. The Alcochete I and II projects will have bifacial technology that maximises energy production and reduces the average cost of electricity by 16%.In addition, the Montechoro I (11.57 MW), Montechoro II (24.95 MW) and Carregado (64.1 MW) projects, awarded in the same auction, are in the process of obtaining the construction licence and are scheduled to be commissioned in 2023, at which time Iberdrola's PV capacity in Portugal will total 187 MW.
