Cantabria can expect an upgraded energy sector after a large investment announcement

Multinational energy company EDP promised to invest 300 million euros there

On 23 April, there was a high-level meeting between the Cantabrian regional government and EDP (Energias de Portugal) energy company, after which it was announced that some 300 million euros will be injected into the energy sector of the region. This is meant to help the northern Spanish region achieve its purported goal to get to climate-neutral status by 2030, well in advance of the European Agenda’s deadline of 2050.

Energy transition is a main line of action for the future

The President of the Cantabrian government, Miguel Ángel Revilla listened to the plans of EDP, which was represented by its Spanish branch president and CEO, Manuel Menéndez and Rui Teixeira, respectively and expressed gratitude for the large-scale commitment that the company has undertaken to revitalize the energy sector in the region.

This transformation is supposed to go along the lines of boosting renewable production of electricity. Among the plans that were presented were the creation of the Somaloma and Quintanilla wind farms in the rural municipalities of Valdeprado del Río, Enmedio and Valdeolea.

Likewise, there was talk about the installation of the so-called ‘solar neighbourhoods’ in cities. The EDP president also explained that the energy transition involves the reconversion of capacities of large Cantabrian companies, such as Solvay, Ferroatlántica and Armando Álvarez, with which there is already ongoing negotiations.

Finally, Manuel Menéndez and Rui Teixeira have ratified before the president and the director EDP's commitment to maintaining the Viesgo brand (a local electricity company) and the company's vocation to contribute to the development of Cantabria. Menéndez emphasized that the region has played a "strategic role" for EDP since the absorption of Viesgo, while Teixeira pointed out that the announced investment of 300 million euros "reinforces and guarantees the commitments assumed".