Jersey, 1 Oktober 2008
Importantly, MIP has managed to secure all relevant approvals by the local authorities in time before 29 September 2008. At that point, the current applicable feed-in-tariff, regulated by Royal Decree 661/2007, will be replaced by a new tariff regime. As a result, all seven parks have guaranteed the current higher, inflation-adjusted feed-in-tariff (minimum EUR 0.41 per kWh) for 25 years.
“We have worked with immense determination and now our investors will profit from the attractive feed-in-tariffs, which we could secure by the timely completion and approvals”, said Hans Haider, chairman of MIP. The Spanish government has announced a new tariff law, which will most likely reduce the tariff for all future photovoltaic plants.
The parks Son Valardell, Sa Gruta und Ses Cabanasses are located on the island of Mallorca, the two Almeria parks and the photovoltaic plant at Casabermeja are situated in Andalusia, while the plant at Moraleja is located in Extremadura. The expected annual energy production from the seven photovoltaic parks will reach about 45 GWh. Because of the excellent coverage by those seven parks, MIP has put another small photovoltaic plant, planned for construction on the island of La Palma, Canary Islands, on hold for the time being.
A prime success factor for the speedy realization of the photovoltaic parks was the selection of competent and experienced partners by the management of MIP. Solon Solar Investment GmbH, a subsidiary of the German listed Solon AG, was responsible for the development and construction of the investments in Son Valardell, Sa Gruta, Ses Cabanasses, Casabermeja and Moraleja. The investments in Almeria where developed by New Energy Invest GmbH, and constructed by EPC partner Alpine-Energie GmbH.
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