The facility is the fifth merchant solar PV plant successfully developed, built and operated by Exus in the last four years, adding a combined total of 90 MWp to its 200 MW greenfield portfolio. Throughout development, and in planning for the asset management phase, Exus has centred its focus on future energy efficiency, ensuring the project will maximise its power output.
Located in southern Portugal – one of the highest irradiation regions in Europe – the Fonte Figueira solar plant will have 7.7 MWp of installed capacity.
With Portugal aiming to secure a solar capacity between 8.1 - 9.9 GW by 2030, the country is supporting this ambition by delivering two annual solar auctions to add 1 GW of capacity per year to the grid, resulting in a forecasted 8 percent annual growth.
In line with the original agreement, Exus maintained the projected timeline despite the unexpected change in policy from the Portuguese government around new connection requirements. The project is one of the first in Portugal to address and adapt to the new regulations.
“Connecting another solar PV plant is a significant step in bringing 200 MW of renewable power to the Portuguese grid” said Carlos Tello Garcia, Co-Founder and COO, Exus Management Partners. “Despite the challenges put forward by recent regulatory changes in grid connections, we were able to find solutions to advise our project partners of a suitable strategy that would enable project timelines to remain on track and on budget. In developing a subsidy-free pipeline at a time of significant solar power growth in the Portuguese market, we have an opportunity to demonstrate how to develop and build with the lowest LCoE. We look forward to developing future partnerships and connecting the remaining projects to the pipeline in due course.”
In a strong start to the new year, Exus continues to showcase its wide range of technical, financial and strategic services as we transition to net-zero.
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