ACCIONA has been selected to build and operate as owner a 62 MW photovoltaic solar plant near the town of Moura, in southern Portugal. The plant will be the largest in the world, with 6 times as much installed power as the next largest one.
With an investment in excess of 200 million euros, its construction will be carried out in two stages: the first, with 40-45 MW, will be concluded in 2008 and the other, with the remaining power, will be completed by 2010. With a production capacity of 91 million kWh per year, the plant will make ACCIONA the world's leading owner of photovoltaic assets.
The company will build a photovoltaic panel manufacturing plant in the municipality of Moura with a minimum annual production capacity of 24 MW and will contribute €3,500,000 to a social fund for the development of infrastructures to be owned by the municipality.
To materialise the operation, 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 —Moura Town Council (88%), Comoiprel (2%) and the consultant Renatura Networks.Com (10%). The Town Council may retain, if it so wishes, up to 20% of the company's capital. ACCIONA Solar will be in charge of the turn-key construction of the plant.
This agreement is ACCIONA's first international venture into photovoltaic 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 a figure of 1,793 MW thanks to its strong 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.
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