The mayor of Lebrija visits the Loma de los Pinos wind farm, that Capital Energy is building in the Sevillian municipality
This renewable energy installation is expected to begin operations in the first half of 2022
- The mayor was accompanied by the company’s regional director in Andalusia, Salvador Caro; the deputy mayor of the town, David Pérez; and the Town Zoning councillor, Antonio Marchal
- Loma de los Pinos will have an installed power of 39 megawatts (MW), will supply clean energy to some 40,000 homes and will prevent the emission of more than 41,000 tonnes of CO2 into the atmosphere per year.
- The construction of this wind farm entails an investment of over €36 million, and will have an annual financial impact on the local coffers, and also through leasing agreements, of over €250,000.
Lebrija, 20th August 2021.- Capital Energy, a Spanish energy company founded in 2002 with the aim of becoming the first vertically-integrated 100%-renewable energy operator on the Iberian Peninsula, continues to prove its commitment to creating social and economic value in Andalusia.
The mayor of Lebrija, Pepe Barroso, was able to see first-hand the scope of this commitment to the community during a recent visit to the works on the Loma de los Pinos wind farm that the company is building in the Sevillian municipality. The works are progressing at a good rate and are within the scheduled timeframe. The mayor was accompanied by Capital Energy’s regional director in Andalusia, Salvador Caro, as well as by the deputy mayor of the town, David Pérez, and the Town Zoning councillor, Antonio Marchal
During this event, Pepe Barroso pointed out that “these types of projects lead to the economic growth of the city, thanks to the creation of direct and indirect jobs. The construction of this renewable energy facility will generate 220 jobs and, during the operations and maintenance stage, the company will provide permanent jobs for eight local professionals”.
Salvador Caro stated that “Loma de los Pinos is an example of Capital Energy’s commitment to the socioeconomic development of Andalusia, a key community in the consolidation of our renewable energy project. This is just another of the company’s many initiatives to reactivate the Andalusian economic sector, providing stable and quality employment and promoting a green energy transition that is, above all, fair”.
Loma de los Pinos is expected to begin operating in the first half of 2022, it already has a long-term power purchase agreement (PPA), and will have 39 megawatts (MW) of installed power. Its seven wind turbines, supplied by General Electric (GE), will arrive at the location in the third quarter of 2021 and will be capable of supplying 103,000 megawatt hours (MWh) per year of clean energy, equivalent to the consumption of around 40,000 Andalusian homes, and also preventing the annual emission of more than 41,000 tonnes of CO2 into the atmosphere.
Moreover, this renewable energy plant will have an annual economic impact on the local coffers (mainly property tax and trade tax), as well as from lease agreements, of more than €250,000. About €500,000, which is the one-off payment for the tax on construction, installations and building works (ICIO), can be added to this recurring sum.
Capital Energy has just closed a second project finance with Banco Sabadell for €21 million, over 18 years, for this wind farm. With this operation, added to the signing of a corporate loan for €140 million with the European credit manager Incus Capital and the Ontario Teachers’ Pension Plan (OTPP), the company has opened a new pathway to continue to strengthen, also from a financial point of view, the development of its clean energy project.
Andalusia, a key region for Capital Energy
Andalusia is an essential community for Capital Energy. The company is developing over 1,300 megawatts (MW), both from wind (close to 900 MW) and solar (approximately 450 MW) in this region. Developing this capacity will entail an investment of over €980 million.
Capital Energy is promoting the construction of 26 renewable projects, 21 wind and five photovoltaic, in six Andalusian provinces. The most megawatts and installations are located in Almeria (460 MW and 8 projects) and Granada (394 MW and 4). They are followed by Malaga (282 MW and 7); Seville (157 MW and 5); Cadiz (28 MW and 1) and Huelva (26 MW and 1).
A portfolio of more than 35 GW on the Iberian Peninsula
In line with its commitment to a green and fair energy transition, Capital Energy currently has a portfolio of wind and solar projects in the Iberian Peninsula with around 35 gigawatts (GW) of capacity, of which more than 8.7 GW have already received network access grants.
Thanks to the launch of its retail arm in the final quarter of 2020, Capital Energy reached its strategic aim of being present on the entire renewable energy value chain: from development, where, given its 20-year history, the Company has a consolidated position, to construction, production, storage, operation and supply.
The aim of the Company, which has more than 385 employees distributed throughout 15 offices in Spain and Portugal, is to deliver to the end consumer the 100%-renewable energy that it is already producing at its facilities.