Grupo Ibereolica has signed an agreement with Inveravante – a Spain-based privately owned energy, finance and real estate conglomerate that has taken a 50% stake in two project companies – for the construction and operation of two concentrating solar power solar thermal power plants in Seville, Spain, and Badajoz, Spain.
The plants, which are expected to cost approximately 600 million euros, have all of the necessary permits and authorizations in place. They utilize parabolic trough technology and produce 50 MW each when completed. In addition, the plants can accommodate future upgrading to salt storage and biomass hybridization in order to significantly increase production during the night, the companies note.
The agreement signed by the two companies also allows Inveravante to replicate existing mechanisms on two additional plants.
SOURCE: Grupo Ibereolica