The JV will continue development of Alfanar’s existing 334 MW portfolio of assets, which includes five wind farms and three PV plants in the Spanish regions of Comunidad Valenciana, Castilla La Mancha, and Castilla y León. It will also seek new developments in onshore wind, solar PV, battery and energy storage solutions.
The JV will develop, fund, and construct projects through the commercial operations date. The projected timeline to build out projects in the current portfolio is to achieve ready-to-build status by 2025 and fully achieve commercial operations by 2027.
Guilherme Carvalho, Managing Director Europe Renewable’s at GE Vernova’s Financial Services business, said: “Our JV with Alfanar will further cement our presence in Spain and build upon our success in establishing relationships with strong development partners to bring renewable energy projects online. Further, the portfolio of projects will help Spain meet its renewable energy targets.”