Global conglomerate GFC Alliance and Spain’s renewables developer, Ignis, announced Thursday a deal to build 1.2 gigawatts of renewable energy capacity in Spain.
The partnership, to be carried out through GFG Alliance’s renewables arm, Simec, plans the construction of two wind power projects in Galicia, northern Spain, and other solar farms across the country. The capacity is targeted to come online by 2023.
The goal is to develop Spain’s largest renewable energy program to support GFG Alliance’s plans for growth in energy intensive industries, Kallanish Energy learns.
The joint venture will enable “highly competitive” long-term power purchase agreements to GFG’s potential industrial assets in Spain, while also helping the company to reach carbon neutrality ambitions by 2030.
GFG, led by Sanjeev Gupta, includes steel group Liberty, aluminum business Alvance and renewables developer Simec. The company doesn’t currently hold industrial assets in Spain, but said there are a “number of areas” where it’s reviewing “significant investment programs.” No further details were disclosed.
Earlier this week, aluminum producer Alcoa said it held talks with GFG on its Spanish aluminum smelters.
Under GFG’s climate goals, Liberty Steel Group is working to create an “economically and environmentally sustainable future” for the global metals industry. The company has developed the green steel concept.
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