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    Capital Energy plans investments of more than 2.4 billion to develop its portfolio of 2,324 MW renewables

    May 16, 2022 - CE Noticias Financieras



      Capital Energy expects to invest more than 2,400 million euros to develop its 2,324 megawatts (MW) renewable portfolio, after being the big winner of the last two auctions of 'green' power in Spain.

      According to the socioeconomic impact plan of the investment projects awarded by the company in the last of the auctions, held last October, this total figure includes the capital investment (Capex) for the design, manufacture, transport, construction and connection of all the equipment in the eleven autonomous communities in which it will develop its projects.

      Of this portfolio, the company expects the 2,316 MW of wind power to come into operation before September 2024, while the 8 MW solar project, awarded in the last of the auctions, will come into operation in September of this year.

      Specifically, the group's portfolio comprises a total of 49 renewable projects to be developed in Andalusia, Aragon, Cantabria, Castile and Leon, Castile-La Mancha, Catalonia, Navarra, Valencia, Galicia, La Rioja and Asturias.

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      Regarding the impact of future activities on employment, the renewable group founded by Jesús Martín Buezas estimates that 49,199 jobs would be generated during the total lifetime of the projects assigned to the second auction. Of these, 18,165 direct jobs, 22,145 indirect jobs and 8,889 induced jobs.

      Meanwhile, the employment effect of the company's activity would be 1.7, which means that each direct job generated (18,165 jobs) would generate 1.7 indirect and induced jobs (31,033 jobs).

      Furthermore, as a consequence of these activities during the 30-year useful life of the wind farms, it estimates a contribution to the Spanish Gross Domestic Product (GDP) of 4,906 million euros and a tax contribution of 1,670 million euros.

      The commissioning of this portfolio of 2,324 MW will generate savings to the system of almost 700 million euros and will provide green energy supply to almost 2.5 million homes, according to the company's data.


      Capital Energy was the main protagonist in the last renewable auctions carried out by the Government. In the last one, in October, it was awarded a total of 1,548 MW - 1,540 wind and 8 solar - all of which it competed for.

      In the previous auction, in January 2021, the group also became the main protagonist by winning a total of 620 MW of wind power.

      In the October auction, more than 3,120 MW of power were awarded among all participating companies, 95% of the auctioned power (3,300 MW), at an average price of 30.56 euros per megawatt hour (MWh). Of these, a total of 2,258 MW were wind and another 866 MW photovoltaic.


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