Wind power in Galicia, Greenalia starts its first wind farm in Vimianzo (A Coruña)

Greenalia has started the activity in Miñón, in the municipality of Vimianzo (A Coruña), of the first of its wind farms under the Eolo project, with an investment of 28 million euros and a total of six wind turbines with a total capacity of 24 megawatt production (MW).
The implementation of this wind farm is part of an Eolo project project, through which the company will invest 87 million euros in its first phase that will allow the construction of five parks. Through this initiative, the firm estimates to generate annual revenues of 10 million euros in 2021 and a gross operating profit (Ebitda) of 7.5 million euros.

In this first phase a park is also being built in Ourol (Lugo), with 26 million euros of investment, which will be operational from the first quarter of 2020, and another three in Alto de Croa, Alto de Croa II and Monte Tourado, all in A Coruña and that will be in operation from the third quarter of next year.

On the other hand, the second part of the Eolo project will require an investment of 149 million euros for the installation of four wind farms. The forecast is that they start operating before the end of 2020, generating additional income from energy sales of 18.5 million euros and an Ebitda of 14 million euros.

The company’s financial director, Antonio Fernández, said that his wind project, together with the company’s traditional and biomass project, will allow the corporation to reach 43% of the objectives set forth in the strategic plan for 2023 in 2021, with 120 million euros of revenue, an Ebitda of 43 million and 252 megawatts of power in operation.

Greenalia recalled that, in July, it obtained financing, under the modality of ‘project finance’, amounting to 84 million euros for the construction of the five wind farms of the first phase of the Eolo project, while the financial closure for the facilities Remaining is expected to be completed during the first half of next year.