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GE Vernova’s Financial Services business and Alfanar Energia España (Alfanar) have established a joint venture to develop renewable energy projects in Spain.
The JV will continue the development of Alfanar’s existing 334MW portfolio of assets, which includes five wind farms and three photovoltaic (PV) plants in the Spanish regions of Comunidad Valenciana, Castilla La Mancha and Castilla y León, and seek new development opportunities in onshore wind and solar PV. Battery and energy storage solutions will be explored as well. The JV will develop, fund, and construct projects through the commercial operations date. The projected timeline to build out projects in the current portfolio is to achieve ready-to-build status by 2025 and fully achieve commercial operations by 2027.
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