Iberdrola has started up the Algeruz II project, the first photovoltaic plant in Portugal, in line with the company's investment strategy in facilities of this type in the Iberian Peninsula, as reported by the energy company in a statement. The plant has more than 50,500 fixed single-facial photovoltaic modules, which will generate enough clean energy to supply more than 11,000 homes and avoid the emission into the atmosphere of 13,400 tons of carbon dioxide (CO2) per year. This project, which involved an investment of E17.8 million, has generated more than 200 jobs during peak construction periods, covered entirely by local workers.Iberdrola obtained a total of seven photovoltaic projects in Portugal following an auction in 2019, of which three are under construction and are scheduled to enter commercial operation throughout this year. These are the Conde (with 13.51 megawatts of installed capacity), Alcochete I (32.89 megawatts) and Alcochete II (12.72 megawatts) PV plants. The latter two projects will have bifacial technology that maximizes energy production and reduces the average cost of electricity by 16%.On the other hand, the Montechoro I (with 11.57 megawatts of installed capacity), Montechoro II (24.95 megawatts) and Carregado (64.1 megawatts) projects, awarded in the same auction, are in the process of obtaining the construction license and their commissioning is scheduled for 2023, at which time Iberdrola's photovoltaic capacity in Portugal will total 187 megawatts.Iberdrola recently launched a historic investment plan of E150 billion over the next decade (E75 billion by 2025), with which to triple renewable capacity, double network assets and commit to clean and sustainable consumption. "In the current context, accelerating the energy transition is essential to reduce dependence on fossil fuels and combat the effects of climate change," the company explained.