A new $500 million hybrid solar and wind farm is set to be built in South Australia as Spanish company Iberdrola steps into the Australian renewable energy market.
The 320MW renewable energy project is going to be located near Adelaide. This hybrid wind and solar farm is part of Iberdrola’s planned 650MW project pipeline in South Australia and Queensland.
“We have spent several years studying the opportunities in Australia, and we now have a healthy initial pipeline of around 650 megawatts of wind and solar projects that we would like to develop,” Iberdrola Director of Renewable Energy Xabier Viteri said through a statement to Reuters.
Mr Viteri added: “Like a lot of countries, we see increasing demand from the public and businesses for their energy to come from clean sources. When you have that demand, coupled with abundant natural resources for high-performance wind and solar, it creates a highly attractive market to invest in.”
Iberdrola is aiming to get the hybrid wind and solar project in the Spencer Gulf up and running by 2021.
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Source: Reuters; The Sydney Morning Herald; Renew Economy; Renewables Now; PV Magazine Australia; Institute of Energy Economics and Financial Analysis