June 24 (Renewables Now) - Construction of the 50-MW Cofrentes onshore wind farm has kicked off in Spain’s Valencian Community, the project’s developer Elecnor SA (BME:ENO) informed on Monday.
Elecnor is building the EUR-53-million (USD 59.9m) farm through its wind unit Enerfin Sociedad de Energia SL. The Cofrentes project was one of several selected under the framework of the Valencian Community’s wind plan.
The wind farm is backed with a ten-year power purchase agreement (PPA) which Elecnor signed with Spanish oil and gas company Compania Espanola de Petroleos SAU (Cepsa). It has also signed a project finance agreement with lender Banco de Sabadell SA (BME:SAB).
The Cofrentes wind farm will be equipped with 13 turbines supplied by GE Renewable Energy. Once the farm is fully up and running, it will produce enough power to meet the consumption of more than 43,000 households.
The wind farm is expected to come online in March 2020.
(EUR 1.0 = USD 1.13)