The photovoltaic project will come to life at Quinta do Anjo through an operation of the investment and asset management company NextEnergy Capital, with headquarters in London (United Kingdom), under the scope of the NextPower III fund.
The Quinta do Anjo photovoltaic power plant will comprise 90,076 solar panels, with an installed capacity of 40.5 megawatt peak (MWp), in an area of around 45 hectares.
With an annual production capacity of 71.3 gigawatt-hours (GWh) of electricity and with operations due to start in 2022, it will make it possible to supply over 21,000 homes and avoid the emission of 18,660 tonnes of carbon dioxide (CO2) per year.
According to the managing director of NextPower III fund (NextEnergy Capital), Filinto Martins, the Quinta do Anjo photovoltaic plant will allow the company to “strengthen and consolidate its presence in Portugal,” after having invested 18 million Euros in the Paderne photovoltaic project in the Algarve.
“Through this investment, it will be possible to stimulate and contribute to the growth of solar energy production, particularly in Palmela, a region with a very interesting geographical position,” Filinto Martins said in a statement.
According to him, the Iberian Peninsula is a “key market for providing favourable solar irradiation conditions”.
With the investment in Quinta do Anjo, the NextPower III fund will increase its operational solar assets and reach a total of 394 MWp of installed capacity.
According to the Mayor of Palmela, Álvaro Balseiro Amaro (CDU), the project meets the objectives defined by the municipality in the axis of environmental sustainability and energy efficiency, as well as the goals defined under the Sustainable Energy Action Plan.
“In Palmela, we understand sustainability as a tangible goal, unavoidable in all its dimensions, so we cherish this project for the value it adds to the territory and its direct connection to the automotive ‘cluster’ of the municipality. By providing energy from renewable sources to huge companies, which are major consumers, this investment may have a multiplier effect, which favours a faster change of paradigm within the sector,” he says.
Álvaro Balseiro Amaro adds that the project will be “another strong contribution to make Palmela - which is the largest municipality in the Lisbon Metropolitan Area - one of the main national producers of green energy”.