Spanish utility Iberdrola SA (BME:IBE) will contribute to building the first industrial-scale solar PV panel factory in Spain.
The company said on Tuesday that it has partnered with Spanish solar panel maker Exiom to build the factory in the region of Asturias on a EUR-20-million (USD 21.3m) investment. Details on the plant’s production capacity were not provided.
The factory will be located in the old mining town of Langreo, where extractive activity ceased over the years and where Iberdrola used to operate a now mothballed coal-fired power station.
The Langreo solar panel factory will create 115 direct jobs and help revive the economy in the mining region, the utility said. The facility is expected to commence operation in 2023.
Iberdrola’s investment will come out of its Perseo programme through which it supports start-ups and industrial innovations working in the field of electrification and decarbonisation.
Asturias-based Exiom has been in the PV business for 14 years. The firm has two solar panel factories in China with a combined production capacity of 1 GW, it says on its website.
(EUR 1.0 = USD 1.065)
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