WELink plans to invest up to €420 Million in Portugal's largest solar plant

Irish solar energy equipment supplier WELink aims to invest between €400-420 million to optimize the Ricardo Totta solar power plant in Algarve, according to a press release.

“We are looking to maximize the connection point with hybridization projects,” said WElink Project Director for Iberia Hugo Paz. “There is still room to optimize the project with solar over-equipment. We have been studying the wind resource for over a year. The goal is to have everything ready by 2030 to offer a terawatt of clean energy to the system.”

WELink envisions investing around €200 million for wind and as much as €40 million for solar. The storage project would cost around €70 million. After completing that work, the company would invest €100 million for a second phase in wind turbine construction.

The project would greatly enhance Portugal’s energy portfolio, said Paz.

“To attract investment to Portugal, we need a different energy market, a market with a minimum production value equal to the cheapest fossil system plus emission costs would provide investor confidence, ensuring their investments are not at high risk,” he said.

Paz also confirmed that WELink was not interested in selling the project even though German company Allianz has expressed interest and bought another WElink solar plant in the southern Portuguese city of Beja.  ce/jd