The 50 MW wind power plant will have a total investment of 53 million euros. Elecnor has signed a contract with Cepsa to cover the sale price of energy for a period of 10 years for 50% of the energy generated by the wind farm. The wind energy project will create 300 direct jobs.
Elecnor, through its wind development subsidiary Enerfin, has started the construction of a new 50 MW wind farm in the Valencian Community, located entirely in the municipality of Cofrentes. The project, whose start-up is scheduled for March 2020, will have a total investment of 53 million euros and will consist of 13 wind turbines from the manufacturer GE Renewable Energy.
This park is one of the projects awarded within the framework of the Wind Plan of the Valencian Community, being the first wind farm to be built in the Community in the last 8 years. The project will produce clean energy for the consumption of 43,705 families, thus avoiding the emission of 66,000 tons of CO2. It will evacuate its energy in the Cofrentes substation, owned by Iberdrola Distribución.
The construction of the park will generate an income for the Valencian Community of more than one and a half million euros and the operation will mean an annual income of more than € 400,000 / year, coming from taxes and contributions to the Compensation Fund of the Wind Plan. Likewise, during the construction and operation, a generation of 300 direct jobs and more than twice as many indirect jobs is expected.
For this project, Elecnor has signed a Power Purchase Agreement with Cepsa at a fixed price for a period of 10 years. The contract has provided Elecnor with access to optimal financing for the construction of the park and allows Cepsa to continue offering 100% renewable electricity to its customers. Likewise, it has signed the financing agreement for the project with Banco Sabadell under the project finance modality.