Solaria inaugurates four 63MW photovoltaic plants in Portugal

May 17, 2021


Solaria, a leading company in the development and generation of photovoltaic solar energy in Southern Europe, today inaugurated four plants in Portugal, in an event attended by the Portuguese Minister for the Environment and Energy Transition, João Pedro Matos Fernandes, and the Deputy Minister and Secretary of State for Energy, João Galamba. The inauguration event took place in Alentejo, where three of Solaria’s four photovoltaic plants are located.

With these projects, the firm is positioned as the first to inaugurate the parks of the photovoltaic auction that Portugal held in 2019. It should be noted that of the 10,000 MW that the Portuguese state plans to develop by 2030, Solaria plans to promote 1,000 MW, which is equivalent to 10% of the total solar PV capacity in this country.

Solaria’s project in Portugal is part of the company’s international expansion strategy and brings it closer to its goal of reaching 6.2 GW by 2025. It consists of four plants, three of which are located in Alentejo, specifically in Mendo Marco (24.2 MW), Monte Falcato (14.1 MW) and Herdade Canhoes (13.7 MW), and the fourth is located in the Lisbon area, in Casais da Marmeleira (12.1 MW).

Once operational, the four plants will avoid the emission of more than 690,000 tons of CO2 into the atmosphere, in line with the European Union’s objectives of reducing greenhouse gases by 55% by 2030 and achieving climate neutrality by 2050.

Arturo Díaz-Tejeiro, CEO of Solaria, said: “We are delighted with the inauguration today of the plants located in Alentejo and Lisbon. The development of these solar parks in Portugal is an important milestone for the company, as it allows us to take another step forward in our determination to meet the objectives we have set ourselves in terms of internationalization and development in this country, objectives that are part of our strategic plan”.

For the development of these projects, Solaria closed last April with the French entity La Banque Postale a long-term financing agreement under the project finance modality for an amount of up to 23 million Euros and at very attractive interest rates below 1.75%.

Solaria is the leading company in the development and generation of photovoltaic solar energy in southern Europe. Since its foundation in 2002, it has specialized in renewable energies and more specifically in the implementation and development of solar photovoltaic technology, with the commitment to contribute to a better future and to the sustainable development of society. Its business model has evolved from the manufacture of photovoltaic cells and panels to the development and management of generation plants. In recent years, SOLARIA has evolved from an industrial group to an energy generation company. It has a long history on the Spanish stock exchange, where it has been listed since 2007, culminating in 2020 with its entry into the selective Ibex 35. In March 2021, Solaria became a Signatory Partner of the United Nations Global Compact, in line with the company’s firm commitment to sustainability, through the reinforcement and alignment of its strategy with the Ten Universally Accepted Principles in the areas of human rights, labor standards, environment and anti-corruption, as well as the adoption of measures to support the objectives of the United Nations, currently embodied in the Sustainable Development Goals (SDGs) and the 2030 Agenda.

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