Otero, in the province of Segovia, will provide 505 megawatts to the electricity grid, making this facility the second largest photovoltaic plant in terms of installed capacity on the continent

Iberdrola has announced the construction of a new photovoltaic project in Spain, specifically in the province of Segovia, in Castilla y León. With a capacity of 505 megawatts and an investment of close to 220 million euros, the Otero photovoltaic plant will generate enough green energy to supply 290,000 homes and prevent the emission of 182,000 tons of carbon dioxide annually. To this end, it is planned to hire up to 1,100 people to get it up and running.

These figures, which exceed those of its neighbor Núñez de Balboa (500 MW), in Extremadura, make FV Otero the second largest photovoltaic plant in the old continent and highlight the investment that the electricity company is making in the Autonomous Community of Castilla y León, a region where the company manages around 5.1 GW of green energy. An example of this is that it is currently building three wind farms in Burgos, a wind complex in Soria, and several photovoltaic plants totaling 800 MW, spread across Ciudad Rodrigo (300 MW), Velilla (400 MW), Revilla Vallejera, Ballestas and projects in Villarino.

Planta Fotovoltaica Otero. Source: Iberdrola

Future investments

In addition to the construction of this plant, the Community of Castilla y León is going to become a hub forrenewable energy investments by Iberdrola, which estimates the installation of up to2.4 GW of renewable energy sources in the area. According to the press release published by the company on its website, this would entail an investment of close to 2 billion euros and the creation of 24,000 jobs.

All of these investments are part of the 2020-2025 strategic investment plan that Iberdrola has launched with the aim of doubling its renewable capacity and “taking advantage of the opportunities offered by the energy revolution.”