VSB expands into the Spanish market
VSB Group opens a new subsidiary in Spain, VSB energias renovables.
Through this new entity, VSB has signed a co-development partnership with TW Solar, a Spanish player specialising in the development of photovoltaic power plants since 2007. Once the development of the photovoltaic projects in this 100 MWp capacity portfolio is completed, VSB energies renovables will own 100% of the projects and assume financing, building and operating activities.
Located mainly in the south of Spain, these projects are subject to regional authorisation procedures and are part of the national ambition for installed renewable energy capacity development.
Wind and photovoltaic energy currently accounts for 30% of installed electric capacity in Spain. With a government target of 35% by 2030, Spain will need to install between 45 and 55 GW over the next decade.
This is a major market for VSB Group as part of its european expansion strategy.
Acquired at various stages of development, VSB will finance, build and operate these various projects, which are scheduled to come on stream in 2022.
VSB's activity on the Spanish market will be operated from the French subsidiary VSB énergies nouvelles, based in Nîmes.
François Trabucco, Managing Director of VSB energias renovables, says : :
"VSB energias renovables has the ambition to actively participate in the development of renewable energy in Spain. With respect for the territories, we will deploy responsible and sustainable projects, based on the recognised expertise of our French teams".