Reuters revealed that wind power giant Iberdrola and solar project developer Prosolia Energy will jointly invest 850 million euros ($996 million) in five solar parks in Iberia by 2025, including one of Europe’s largest power plants in Portugal. Through the deal, the companies aim to develop total new capacity of 1.5 gigawatts (GW) in four photovoltaic parks in Spain and a mega-plant in Portugal, which is almost equal to the country’s entire current installed capacity, by 2025. Solar photovoltaic technology captures sunlight and turns it into electrical energy.
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