Iberdola commissions €200m solar power plant in Spain in partnership with Norges Bank

Iberdrola España, a subsidiary of Spanish energy group Iberdola has commissioned a 316 MW solar farm in the country’s Salamanca province. The solar PV plant, a €200m investment, is part of a partnership with Norges Bank.

Once operational, the company’s estimates suggest it could meet energy demand from 155,000 households and avoid 75,000 tonnes of CO₂ emissions annually. Spread across 439 hectares, this is Iberdola’s second solar project in Salamanca.

Iberdola has six operational PV facilities spread across the wider Castile and León region. Since 2022, combined capacity of these projects has risen to over 890MW. Spain’s first hybrid wind and solar plant is also located in this region.

In April 2024, Norges Bank purchased a 49% interest in Iberdola’s 644MW Spanish solar energy portfolio – valued at invested €203m. In January the same year, Norges Bank acquired a similar 49% stake in a solar and onshore wind asset portfolio from Iberdola for €307m.

A year prior, the Norwegian sovereign wealth fund entered a strategic alliance with Iberdola, aimed at developing 1265MW of renewable energy capacity in Spain.

In recent years, such projects have contributed to a rising share of renewables in Spain’s electricity mix. At the end of 2024, Spain’s transmission system operator estimated a renewable energy share of 56%.