MADRID, 19 Ene. (EUROPA PRESS) -

Solaria has obtained the Administrative Authorization for Construction of its second flagship project, the 'Garoña' photovoltaic plant, of 595 megawatts (MW) and located in Burgos, the company informed the National Securities Market Commission (CNMV).

With this authorization for the project, the renewables group reiterated its capacity goal of reaching three gigawatts (GW) by the end of 2024.

Specifically, this project, one of the largest in Solaria's portfolio, will involve the construction of four solar plants in the area around the former nuclear power plant.

With a budget of around 360 million euros, it will involve the installation of around 1.5 million solar panels, which will provide service to around 300,000 homes in the province of Burgos.

Solaria obtained a net profit of 86.4 million euros in the first nine months of the year, which represents an increase of 24% compared to the same period of the previous year.