Spanish utility Iberdrola won a concession to build and operate four hydroelectric plants totaling 1,134 MW on Portugal's Alto Tamega River. The company said it plans to earmark 1.7 billion euros (US$2.2 billion) for the work. Officials signed a contract to build and operate the projects during a ceremony January 23 in the town of Chaves, Portugal, near the site of the new hydro plants. Portugal Prime Minister Jose Socrates and Iberdrola Chairman Ignacio Galan signed a contract for the project at the event. Galan called the Alto Tamega hydroelectric complex one of the most important hydraulic undertakings in Portugal over the past 25 years and one of the great hydro developments in Europe. The complex is expected to complete the hydroelectric development of the Douro Basin, called the Duero where it extends into Spain. Iberdrola said it plans to earmark funds in 2012-2018 for Alto Tamega's four hydro plants, Gouvaes, Padroselos, Alto Tamega, and Daivoes. While it did not identify individual capacities, Iberdrola said two plants would offer 900 MW of pumping capacity and two conventional hydro plants would offer 234 MW, for a total capacity of 1,134 MW. The plants will generate about 2,000 gigawatt-hours annually, which represents about 3 percent of Portugal's electricity consumption.
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