- The plant will produce 1.6 GW of panels annually, creating 500 jobs in Extremadura.
- The project seeks EU funding under the Net Zero Industry Act.
- Iberdrola plans to invest over €4 billion in R&D by 2030.
- Extremadura will see 2,800 MW of renewable energy installed from 2020-2025, with a €1.7 billion investment.
Project Overview
Iberdrola has proposed a photovoltaic panel manufacturing project to the European Commission's Innovation Fund. The plant will have a production capacity of 1.6 GW per year, equivalent to 3 million panels, potentially covering a third of Spain's current demand. A significant portion of the production will be installed in Extremadura, a leading region for this technology in Spain.
Economic Impact
The new industry is expected to create 500 direct jobs in Extremadura, boosting local economic development. The project requires European funding to ensure competitiveness and could be part of the "Net Zero Industry Act," aimed at strengthening emission-free manufacturing technologies in Europe.
Investment in Innovation
Iberdrola plans to exceed €4 billion in investment in Innovation, Development, and Research (R&D&I) activities by 2030, doubling its investment in this area. The company has already allocated more than €2 billion to R&D in the last decade. In 2008, Iberdrola launched the PERSEO programme to support start-ups and innovative industrial companies, investing €175 million to date.
Extremadura's Role
Extremadura is crucial to Iberdrola's renewable energy expansion in Spain, with over 4,000 MW of installed green power capacity. The region hosts more than twenty renewable facilities, including twelve solar plants and eight hydroelectric plants. From 2020 to 2025, Iberdrola plans to install 2,800 MW of renewable energy in Extremadura, investing over €1.7 billion and generating approximately 7,400 jobs.
Future Plans
Iberdrola's 2025 Strategic Plan includes a €17 billion investment in renewable businesses, aiming to increase its installed renewable capacity to 52,000 MW by 2025. This includes 3,100 MW of onshore wind, 6,300 MW of photovoltaic, 1,800 MW of offshore, 700 MW of batteries, and 200 MW of hydro.
