Willow Kennedy
Boliden Somincor, EDP and Greenvolt have partnered to develop what will become Portugal’s largest solar self-consumption plant, a 49 MWp installation near the Neves-Corvo mine in Castro Verde.
For an underground mining operation where ventilation, pumping, mineral processing and ore concentration run continuously, electricity is not a background utility. It is a production requirement. When power prices swing or supply tightens, operational continuity is directly exposed.
The new facility is expected to produce nearly 100 GWh of electricity annually—equivalent to roughly one-third of the mine’s total consumption—and reduce carbon dioxide emissions by more than 41,000 tonnes per year. Completion is projected for the second half of 2026.
Reducing Exposure in an Energy-Intensive Industry
The solar plant will be installed on approximately 55 hectares within Boliden’s existing mining concession at Herdade de Neves da Graça. In addition to generation capacity, the project includes expansion of the electrical substation serving the operation.
For zinc and copper processing facilities, electricity costs represent a significant share of operating expenses. European power markets have experienced sustained volatility in recent years, underscoring the financial sensitivity of industrial sites to wholesale pricing and grid constraints.
Self-consumption generation does not eliminate exposure, but it reduces reliance on external supply and improves cost predictability—particularly for base-load industrial demand.
EDP will manage the facility for 12 years following commissioning.
Decarbonization Integrated With Operations
Neves-Corvo is one of Europe’s largest zinc mines and part of the Iberian Pyrite Belt, a geological formation spanning southern Portugal and Spain. The site produces copper, zinc, lead and silver through underground extraction and dual concentrator processing.
Integrating 49 MWp of solar generation into this industrial footprint reflects a broader shift in heavy industry: decarbonization efforts are increasingly designed to align with operational resilience rather than operate separately from it.
By generating roughly one-third of its electricity needs on-site, Boliden Somincor links emissions reduction with energy security.
Approximately 200 people are involved across development and construction, with activity concentrated in the Baixo Alentejo region, where the mine remains a significant local employer.
Broader Renewable Context
The project also aligns with recent performance trends at EDP Renováveis (EDPR), the renewables arm of EDP – Energias de Portugal.
In 2025, EDPR reported:
- Recurring net profit of $388.7 million, up 50% year-on-year
- Recurring EBITDA of $2.3 billion, a 17% increase
- Electricity generation of 40.6 TWh, up 11%
The company attributed growth to disciplined investment across the U.S. and Europe and strong operational execution.
Large distributed industrial projects such as the Neves-Corvo installation reflect the continued expansion of renewables beyond utility-scale parks and into site-specific industrial applications.
A Signal for Energy-Intensive Sectors
At 49 MWp, the Neves-Corvo solar plant represents a notable scale for on-site generation in Portugal.
For energy-intensive sectors such as mining, metals processing and heavy manufacturing, the model addresses three converging pressures:
- Emissions reduction targets
- Electricity price volatility
- Security of supply
The project does not insulate the operation entirely from market or regulatory risk. But it shifts part of the energy equation inside the fence line.
For industrial operators navigating both decarbonization commitments and cost discipline, that balance is increasingly central to strategy.