ACCIONA Acquires Rights to 62 MW PV Plant

ACCIONA has been selected to build and operate a 62-megawatt (MW) photovoltaic (PV) solar plant in southern Portugal, near Moura. With an investment exceeding Euros 200 million [US$254 million], its construction will be carried out in two stages. ACCIONA Solar will be in charge of the turnkey construction of the plant.

The first stage, with 40-45 MW, will be concluded in 2008 and the other, with the remaining power, will be completed by 2010. With an expected production capacity of 91 million kWh per year, the plant is expected to offer record PV assets. The company will build a PV panel manufacturing plant in Moura with a minimum annual production capacity of 24 MW and will contribute Euros 3,500,000 [US$ 4.4 million] to a social fund for the development of infrastructures to be owned by the municipality. ACCIONA will acquire 100% of the shares of Amper Solar — owner of the rights to the solar plant, authorized by the Portuguese Ministry of Economy — from its current shareholders. This agreement is ACCIONA’s first international venture into PV solar energy, a sector that is experiencing a worldwide annual growth of 30-40%. In Europe, this energy industry grew by 50% in 2005, reaching 1,793 MW due to its implementation in Germany, with 1,537 MW in operation (about 85.7%). In Spain, Europe’s second country in its implementation, growth figures also exceeded 50% last year. ACCIONA, which has implemented about 35% of PV power connected to the grid in Spain, has installed or is currently building more than 25 MW. Considered a leader in thermal solar facilities, the company is currently building a 64 MW solar thermal electric power plant in the Nevada desert. In wind power, ACCIONA has implemented over 4,000 MW in 152 wind farms in nine different countries, of which 2,825 MW belong to the company. In addition to its solar energy business, the Group has three biomass plants — one of which is a 25 MW straw-fired facility — and 59 MW in small hydro power plants. The company makes 1,500 kW wind turbines and manufactures approved-quality biodiesel.
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