An inauguration ceremony earlier this week marked the completion of Europe's largest pumped-storage hydropower project.
Developed by Spanish renewable energy producer Iberdrola, the 2,000-MW La Muela pumped-storage plant is located in Spain's Jucar River Basin and represents an investment of US$1.37 billion.
The project took seven years to complete, during which time thousands of jobs were created through contracts placed with more than 30 companies in the Valencia region, Iberdrola said.
"With this inauguration, the company maintains its commitment to clean energy -- particularly to hydroelectric power, in which we have nearly 10,000 MW capacity worldwide," Iberdrola chairman Ignacio Galan said.
"[Iberdrola] has become the leading developer of hydroelectric technology in Spain, spearheading respect for the environment and the deployment of clean energy," Galan said.
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