Santander-based Norcantabric intends to produce 3,000 tonnes of Atlantic salmon per annum, at an average of 4.5-5 kg per fish, according to reports.
The project is funded by private equity, Spanish bank Santander and local government.
Norcantrabric is awaiting finalisation of environmental permits by the end of the year and expects to start putting salmon into the water in 2019, and carry out the first harvest in 2020/2021.
Cantabria has a relatively cold climate, which should lessen energy bills for the RAS.
The RAS technology will be supplied by Israeli firm, Aqua Maof, which is also supplying equipment for Grieg NL’s new hatchery and post-smolt RAS in Marystown, Newfoundland and Labrador.