Ferrovial invests €75 million in solar plants in Andalusia

Ferrovial, through its Energy Infrastructure and Mobility division, has reached an agreement with a major developer group to acquire two solar photovoltaic projects with a total installed capacity of approximately 100 MWp. The purchase agreement is subject to the customary conditions precedent.

Ferrovial is to invest €75 million in building these projects in Andalusia (Spain). The company is currently completing construction of the 50 MWp El Berrocal plant in the region, which is expected to start operations in the second quarter of this year.

The projects have all the necessary permits for construction, which is expected to commence between the second and third quarter of this year, and it is projected to become operational in the second half of 2024. The two plants will employ between 250 and 300 skilled workers in the construction phase.

The two projects will comprise 154,000 bifacial photovoltaic modules on single-axis trackers. Because the location receives a high level of solar radiation, they will be able to inject an estimated 210 GWh/year of electricity into the grid, equivalent to the electricity used by approximately 60,000 homes. They will also contribute to reducing CO₂ emissions by over 33,600 tons per year.

Progress with decarbonizing the economy

Ferrovial is also working to promote the development of offshore wind power, which will help Spain achieve its energy goals. Spain has established a roadmap to become a leader in the European floating wind market, targeting a capacity of 3 gigawatts (GW) by 2030. In fact, Spain’s Maritime Space Management Plan (POEM) targets a capacity of more than 20 GW. Based on the considerable depth of Spanish waters, the Government is giving preference to floating wind technology.

To date, Ferrovial has submitted expressions of interest for five wind farms in the country with an installed capacity of 2,250 MW. Specifically, the company plans to build these infrastructures between 11 and 30 kilometers off the coast in Lugo, Pontevedra, Gerona, Malaga and Gran Canaria.

All stages of the value chain

Following approval of its Horizon 24 Strategic Plan, Ferrovial created the Energy Infrastructure and Mobility division in 2020 with the aim of promoting and developing new sustainable business opportunities and coordinating existing initiatives related to energy infrastructure. Through this division, Ferrovial participates in all phases of the projects, leveraging its experience at all stages from identification of opportunities to development, financing, construction and operation.

The company first entered the energy business in 2016 when it acquired Chilean company Transchile, which operates a 204-kilometer-long transmission line that supplies electricity to 300,000 people. This initiative was followed by numerous other projects, including the construction, operation and maintenance of the El Berrocal photovoltaic plant in Seville (Spain), the Los Piuquenes-Tap Mauro transmission line (Chile), and the 250-kilometer Centella line (Chile), currently under construction.  The division focuses on Ferrovial’s priority markets, especially the United States, Spain, Chile and Poland, and will play an important role in the company’s ESG strategy, concentrating on combating climate change and on decarbonization.