Recently, Three Gorges Europe, a subsidiary of Three Gorges International, successfully completed the delivery of the Daylight photovoltaic power plant project in Spain. It is understood that the success of this acquisition means that China Three Gorges Group has entered Spain, the largest photovoltaic market in Europe, for the first time.

Cotillas Power Station under the Daylight Project

Spain Daylight Project

Spain is rich in solar resources and is the largest photovoltaic market in Europe. According to its national energy plan, Spain plans to add 3 million kilowatts of photovoltaic installations every year by 2030, and the new energy market has huge potential. The Daylight project acquired this time includes 13 photovoltaic power plants with a total installed capacity of 572,000 kilowatts. It is one of the largest photovoltaic operating projects in Spain, and the project asset quality is excellent.

This project is the first transaction completed by Three Gorges Group in Spain. It is the first time that a Chinese energy company has independently entered the Spanish power generation market. It is also the first approved energy investment project for a Chinese state-owned enterprise since Spain's new foreign investment law took effect.

As the world's largest hydropower development company, the Three Gorges Group has continued to accelerate its new energy deployment in recent years. In 2020, Three Gorges Group’s new energy installed capacity exceeded 16 million kilowatts. During the 13th Five-Year Plan, the growth of new energy installed capacity exceeded the total installed capacity in 2019, especially in offshore wind power. By the end of 2020, more than 1.2 million kilowatts of power generation had been put into operation and more than 3 million kilowatts, 5 million kilowatts to be built after approval. In the next five years, Three Gorges Group's goal is to reach 70 to 80 million kilowatts of new energy installed capacity, which is equivalent to 4-5 times the existing basis.

Alacors Power Station under the Daylight Project

Three Gorges Group stated that the smooth delivery of the project will send a positive signal to the capital markets of China and Europe, which will help increase the proportion of three Gorges Group’s overseas photovoltaic business, optimize asset allocation, and establish cooperative relations with the world’s leading photovoltaic development companies to provide overseas photovoltaic business Lay a solid foundation for development. Editor/He Yuting