BNZ will promote 8 solar PV projects in Spain with a total installed capacity of 473 MWp
BNZ, an independent power producer (IPP) that develops, builds and operates solar PV projects, will promote 8 ready-to-build photovoltaic solar energy projects in Spain, with a total installed capacity of 473 MWp. The projects will be located in Andalusia, the Valencian Community, Extremadura, and the Region of Murcia. These will be added to BNZ’s projects under development in Spain and the company expects the plants to be operational in 2024.
These projects come from the purchase by Glennmont Partners from Nuveen (“Glennmont”) from the Spanish developer and EPC contractor Grupotec, which was announced in September 2021. BNZ, part of the portfolio of Clean Energy Fund III raised by of Glennmont, will supervise construction and operation of the 8 projects, which will now become an integral part of the portfolio and are a key element in the company’s strategy to expand in the Spanish market.
BNZ plans to reach an installed capacity of more than 1 GW in Spain, Italy and Portugal by 2024, of which an initial 350MW are in advanced development stage. The company’s main objective is the production of 100% renewable energy to help achieve a low carbon future which will see it primarily focus on solar PV power generation, with the potential for future expansion into other technologies such as battery storage and hydrogen.
The electricity production of all those 8 projects would be able to supply the annual electricity needs of around 170,000 people, the equivalent of a third of Malaga’s population. The clean energy produced at those plants will avoid 245,000 tonnes of CO2 equivalent emissions per year, which is about 1 million roundtrips from San Sebastian to Cadiz, in an average car. In addition, BNZ estimates that it will create around 3600 direct and indirect jobs by 2024.
BNZ is committed to environmental and social progress of the local communities where the company installs its plants. Therefore, in addition to the positive economic impact of the facilities on the local community and its compliance with the maximum environmental criteria, BNZ will analyse and implement social projects to further establish the projects in the local economy.
Board Member of BNZ, Jordi Francesch, said: “This announcement represents an important milestone for BNZ, since the Spanish market has great potential in the development of renewable energies, especially solar PV, and because the portfolio managed by our company will be one of the most important in the country. The development of these clean energy projects will contribute to promoting the energy transition in Spain and to move towards a low emissions economy”.
For these projects, BNZ is supported by Exus Management Partners for the development supervision, and Vector Renewables for the owner’s engineering activities.