GE Vernova and Spain's Alfanar Energia will join forces to develop renewable energy projects in Spain, GE announced on Thursday.
The firms entered into a joint venture in which they committed to developing Alfanar's current 334-megawatt portfolio of assets, which consists of three solar projects and five wind farms.
They will also seek new development opportunities in onshore wind and solar PV and explore battery and energy storage solutions.
Spain aims to have renewable energy powering 81% of its energy capacity by 2030 and targets carbon neutrality by 2050.
'The portfolio of projects will help Spain meet its renewable energy targets, which are primarily driven by onshore wind and solar PV, while contributing to Europe’s overall electrification and decarbonization goals,' according to Guilherme Carvalho, the managing director of Europe Renewables at GE Vernova.
GE and Alfanar aim to achieve ready-to-build status for projects in the current portfolio by 2025 and fully achieve commercial operations by 2027.
By Zeynep Beyza Kilic