Grupo Ibereolica says that the construction of two solar thermal power plants in Spain will help to consolidate its position as a leading company in the CSP field.
The Spanish renewable energy firm has secured financing from Inveravante, a Spanish infrastructure and finance firm, for the two projects and says that it plans to start construction immediately.
The two CSP solar thermal plants will each produce 50 MW and use parabolic trough technology. Located in Seville and Badajoz, southern Spain, the two plants could later be upgraded to include salt storage and biomass hybridisation systems, a move that would allow them to produce electricity during the night.
Inveravante has taken a 50 per cent stake in two special project vehicle (SPV) companies established by Ibereolica for the development of the two projects. Ibereolica says that it is “betting strongly in favour of this technology” due to the large potential that exists for improving the cost and efficiency of CSP.
The agreement between Inveravante and Ibereolica also includes a provision for the future development of two more CSP plants. Inveravante is aiming to become a leading player in Spain’s energy market and plans to invest EUR1200 million up to 2011 in the field.
The two CSP plants will be built at a cost of EUR600 million, says Ibereolica.
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