GE Energy Financial Services and German fund KGAL are jointly investing 111.1 million euros in a 50 MW parabolic-trough concentrated solar power (CSP) plant that uses molten-salt energy storage. The project is located in Torre de Miguel Sesmero, Badajoz, Spain.
The GE unit and KGAL have agreed to invest structured equity in Extresol II, developed by Spain-based ACS. Additional financial details were not disclosed.
ACS has built more than 2 billion euros' worth of CSP facilities with molten-salt storage in Spain. An ACS subsidiary, Cobra, finished construction of Extresol II in December 2010 and provides operations and maintenance services to the plant.
This investment is GE Energy Financial Services' first in a CSP plant using molten-salt storage.