Construction start: Aragón will lead wind energy production in Spain

Construction of the “Goya Project” has oficially started: 9 wind farms will be built in the Belchite, Daroca and Cariñena counties of Aragón. The investment, involving partners Forestalia, Mirova, General Electric and Engie, will generate a total capacity of 300 megawatts, equivalent to the electricity consumption of a city of the size of Zaragoza, Aragón’s capital.

The 300 megawatts of the Goya Project are derived from the country’s first renewable energy auction, in which Forestalia was the largest bidder. The company obtained a total 1,500 megawatts from the auction, all of which will be built in Aragón. 

A ceremony in Azuara (Aragón) marked the beginning of the 310M € construction project.

For the Goya Project, Forestalia has teamed up with Mirova, GE and Engie.  The investment will generate more than 700 jobs during the construction phase and 50 permanent jobs to manage the nine wind parks.

The Government of Aragon declared the actions as investments “of regional interest” to speed up the administrative procedures. The president of the region, Javier Lambán, was present at the ceremony for the construction start claiming that, with another 141 wind energy projects underway, Aragón will be “leader of wind energy in Spain.”

A large number of investments in renewable energy are boosting the region’s production capacity: The planned wind projects will entail an increase from 1,800 megawatts to more than 6,000 megawatts. In the field of photovoltaic energy, 35 new projects are planned, resulting in a production  1,500 megawatts in the region (up from 170MW). With plenty of land, wind and sun-hours available, Aragón is an outstanding location for renewable energy production.

The president of Forestalia, Fernando Samper, described the new wind parks as a “robust project” involving “the best allies, pioneers and innovators”. Celine Lauverjat, Investment Director of Mirova, argued that Aragon is the “ideal place” to carry out the company’s first investment in Spain.

The General Electric CEO in Spain and Portugal, Daniel Carreño, is “proud” to be part of a project that will place the country “at the forefront of wind energy in the world.” The director of Strategy of Engie, Paula del Castillo, called the project the “first step in the development of the future”.

The own funds of the Goya Project represent 140 million euros shared between Mirova (51%), General Electric (25%), Engie (15%) and Forestalia (9%). In the financing of the debt, of about 170 million euros, the European Investment Bank has provided a loan of 50 million euros. The remaining debt (120 million euros) are financed by the banks BBVA, CaixaBank and Santander.

With its vast extension, strong winds and plenty of sun, Aragón is an ideal location for wind farms.