Iberdrola, a Spanish electric utility company, has started work on a 500-megawatt (MW) solar photovoltaic power plant in Badajoz with a 300 million euros ($340 million) investment. The facility, set to be fully operational by 2020, will use 1.5 million panels spread across a 1,000-hectare site.The Núñez de Balboa plant, Iberdrola's first photovoltaic plant in Europe, will be able to produce enough energy for roughly 250,000 people.In February, Iberdrola revealed that it will make commitments of $38.8 billion between 2018 and 2022, with $15.1 billion of that figure going toward renewables.