Asian company China Three Gorges (CTG) has entered into an agreement with Nextel Powell to acquire 619 MW of photovoltaic assets. By far this is its largest operation in Spain, and stocks it with 2,000 MW of renewable energy. With this, it becomes one of the great drivers of green energy in our country.
In the opinion of Renta4 analyst ngel Pérez Lamazares, CTG’s investment cannot be described as astronomical in a market where there are big players such as Iberdrola or Aciona, but there is no doubt that it ” Spanish market attractions,
As for the Llamazares, our country has a great appeal to photovoltaic investors for three reasons: Radiation from Fifth note of musical scale more and during over hours compared to countries such as Germany or the United Kingdom, and the location is better compared to places like the Sahara; Problems with landlords are minor (In France there can be a hundred owners for a hectare, not here); electricity prices are highSo that selling the generated electricity in the market will also make economic profit.
EY Consultancy also believes that Spain is very attractive to invest in renewable energy. This places us as the fourth best country in Europe after the United Kingdom, Germany and France, although it places us at Best in the world in power purchase agreements (PPA in English). PPAs, recalls the advisory, allow the developer of renewable energy to make an investment decision under the criteria of profitability against risk and obtain the necessary financing to execute the project.
Undoubtedly, these reasons will weigh in favor of investing in CTG, although the market also presents some Problem Among them are: globally and locally spout happens in transportation Increase in the cost of silicon due to increase in the number of solar panels shipped from China, increase in global demand for panels, delay in auction Due to renewable energy because there are not enough workers to process them and in the connection permit granted by Red Electrica.
These problems are no deterrent for this mighty Chinese company to start taking over the Spanish market. CTG is the largest renewable energy conglomerate in the Asian country. It has an installed capacity of 75,000 MW, more than 26,000 employees worldwide and a total assets of over $120,000 million. It is also the largest hydraulic company in the world. In late 2020, it was inaugurated in China World’s largest hydroelectric power station: The Three Gorges-Three Gorges in English-, Its electricity output is equivalent to Shanghai’s electricity consumption for eight months, or 45% of the whole of Spain in 2020. The company is used to big challenges, and from what it said in early May. Its CEO in Europe, Ignacio Herrero, are ready to contribute to the development of the energy transition in Spain. After expanding its presence in Spain in November 2021, Herrero said that he believes “Spain is one of the most active renewable energy markets with the greatest potential in Europe, with solid and credible regulatory principles. We look forward to the future.” We will continue to be attentive to opportunities that allow us to optimize our presence in the region.”
CTG entered our country in 2020 by purchasing 500 MW of solar power from X-Elio (Thirteen Plant). He later added another 300 MW of wind power to them. The company’s platforms are located in Southeast Asia, Brazil, Latin America and Europe. It is also a major shareholder of the energy company EDP. After the new purchase in Spain, the question is how it will continue to grow. Of the 619 MW of its previous purchase, 153 are already operational, 52 are under construction and the rest are about to be built. The photovoltaic plants, which will be operational between 2023 and 2024, are located in the autonomous communities of Castilla-La Mancha, Extremadura, Valencia, Murcia and Andalusia.
China Three Gorges: The Chinese Giant That Takes Place in the Spanish Photovoltaic