Hive Energy, today formerly announce the opening of their regional headquarters in Madrid, Spain. The offices have been established to help further develop Spain’s fledgling solar market and to seek out new solar opportunities in the medium to long-term future. Hive Energy are already looking at a number of sites, which could generate over 300MW.
The Spanish offices are led by General Manager Luis Martinez Hermida, who brings to the role over 10 years of experience in investment banking and renewable energy from across the US, Latin America and Europe. Taking an environmentally responsible approach to developing solar farms is paramount to Mr Hermida and his team;
“We are focusing on the best projects in terms of technical, economical and planning feasibility. This means choosing sites with the highest irradiation, those with on site grid connections and sites that are clean and appropriately sited with respect to natural and human environments.”
Hive Energy’s expansion into Spain comes hot on the heels of the launch of new offices in Dubai, Turkey and Mexico; all within the last 12 months. The decision for Hive Energy to expand into Spain came because the Spanish solar market holds great opportunities for growth and is without a dependency on subsidies. Spain also has the highest irradiation in Europe at 1,650kWh/kWp (compared to UK with 950kWh/kWp or Germany with 1,070kWh/kWp), however the potential of Spain’s solar market is yet to be fully realised. In total the PV installed capacity in Spain is 4.5GW vs. 10GW in UK or 40GW in Germany (both of which are lower irradiation countries). This growth potential together with the lowering costs of materials and overheads, means that Spain is likely to achieve grid parity relatively quickly.
“Since the typical development time for a solar project in Spain is close to two years, we believe that securing and starting to develop projects now so that they will be ready by 2017/2018 will pave the way for economically viable solutions in terms of PPAs, swap or derivative options” added Luis.
Earlier in the year, Hive Energy became a member of Spain’s Union Espanola Fotovoltaica (UNEF); the independent association for Spain’s photovoltaic sector.
For more information about Hive Energy visit:
www.hiveenergy.co.uk or @HiveEnergy or Facebook.com/hiveenergy