Endesa SA unveiled a plan at the COP25 climate summit in Madrid to replace its 1.1-GW coal-fired power plant in Teruel, Spain, with 1.7 GW of solar and wind, industry website PV Tech reported Dec. 16, citing CEO José Bogas.

Facing deteriorating market conditions, the Enel SpA subsidiary is shutting down all of its coal plants on the Iberian Peninsula and recently realized a €1.4 billion impairment against the assets.

Speaking at COP25, CEO Bogas said the revamped Teruel site would house 1,585 MW of solar power and 139 MW of wind generation, with 160 MW of energy storage to be installed later. Endesa estimated that the project will cost about €1.487 billion.

The company also plans to replace its 1.052-GW Compostillas coal facility in the León province with 390 MW of renewable capacity.