In partnership with solar module manufacturer Exiom, Spain-based utility company Iberdrola will develop the first large solar module manufacturing facility in Spain and one of the first on an industrial scale in Europe.

The facility will be developed in Langreo (Asturias) and is expected to be operational later this year.

The project will be developed with an investment of €20 million (~$21.27 million) and create 115 direct jobs.

The agreement with Exiom is a result of Iberdrola’s efforts to attract part of the value chain linked to renewable energy to Spain, especially solar energy.

The Asturian region of Langreo has been selected as the site for constructing what will become Spain’s first large-scale photovoltaic facility. Exiom is one of the few European groups to appear on the list of Tier-1 manufacturers.

The move is focused primarily on solar modules, with the possibility of extending the collaboration to other components of the solar value chain.

Iberdrola’s push for a sustainable energy model is part of its startup program called PERSEO to promote the development of innovative industrial companies working in new areas of electrification and sectors that are difficult to decarbonize. The program has been allocated €40 million (~$42.55 million) through the PERSEO Venture Builder.

Both companies have reiterated their stand toward industrialization associated with the energy transition as reflected in the ‘Green Deal Industrial Plan’ presented by the European Commission.

Exiom currently has two solar module manufacturing facilities in China, and the move is bound to provide the necessary impetus to its expansion plans in Spain.

Recently, Iberdrola received a €150 million (~$160 million) green loan agreement from the European Investment Bank to develop a portfolio of renewable energy projects in Italy. The new facilities, comprising wind and photovoltaic projects with a total capacity of around 400 MW, will produce green energy equivalent to the average consumption of up to 260,000 households.

Earlier, Norway’s sovereign wealth fund Norges Bank Investment Management had signed an agreement to acquire a 49% stake in Iberdrola’s upcoming renewable energy portfolio comprising nearly 1.3 GW of solar and onshore wind projects located in Spain.