Torresol Energy, a joint venture between Masdar (a wholly owned subsidiary of the Mubadala Development Co.) and international engineering company Sener, has secured $760 million in project finance loans for the construction of twin concentrated solar power (CSP) plants – Valle 1 and Valle 2 – in Andalucia, Spain. The total investment value for the two plants is $1 billion.
Work on the two 50 MW plants began in March 2009. Both plants incorporate energy solutions developed by Sener, including molten salt thermal storage capacity of up to seven and a half hours. The plants will be capable of generating electricity at night and through periods of poor sunlight, enabling a continuous supply of electricity and overcoming intermittency, the companies note.
SOURCE: Torresol Energy