Calera Photovoltaic Solar Plant Begins Operations
The developer’s first asset to be connected to the grid is the Calera project.
The Calera photovoltaic solar plant in the province of Toledo is now connected to the grid by Dunas Clean Energy I FCR. The fund’s first asset to enter the operation phase and begin supplying the grid with energy is the 19.77MWp project. Construction on the 34,720 solar panel plant, which is situated in the municipality of Novés, started at the end of 2022 and is being carried out by GES (Global Energy Services Siemsa).
GES Completes Construction and Commissioning
A member of the CL Industrial Group, GES completed the plant’s design and engineering, civil and electrical work construction, material and equipment supply, commissioning, and all necessary testing to ensure proper operation. The European Investment Fund (EIF) has guaranteed Kobus Asset Finance I, which has provided the asset with financing through a “unitranche” structure.
Environmental Measures and Potential for Battery Storage
The facility will avoid the emission of about 40,200 tonnes of CO2-eq over the course of a year, producing about 42,000 MWh/year, which is equal to the annual consumption of nearly 13,000 homes in Spain. One of the major cattle trails on the peninsula, the Cañada Real Segoviana, has undergone restoration and planting as a compensatory environmental measure, as outlined in the Environmental Impact Statement for the plant.
This restoration project helps to partially offset the project’s environmental impact. It consists of cleaning and replanting an area of about 23 hectares with native species. The manager is also examining whether or not to include batteries in the project, but the analysis suggests that more developed regulations are still needed in this market for the installation of batteries to be profitable.
Dunas Clean Energy’s Portfolio and Future Plans
With a portfolio of nearly 300MWp of solar projects, Dunas Clean Energy I anticipates starting construction on three more projects in the final quarter of 2024. By 2026, the Fund hopes to have every project in its portfolio in the operational stage. “We are excited to have achieved, after much effort and months of waiting, this great milestone for the first of the Fund’s plants,” stated David Angulo, president of Dunas Capital. “We are dedicated to the energy transition and the use of renewable energies in our nation, and we are still making good progress on the remaining portions of the portfolio. We are appreciative of the fund members’ faith in this initial representative action.”
