Sep 7 2010
Abengoa Solar, a solar company that develops and applies solar technologies and E.ON a Düsseldorf Germany based Energy Company, have completed 50% of the construction of their solar electric thermal plant located in Ecija near Seville (Spain).
The project consisting of two 50 MW Helioenergy 1 and 2 plants, utilizing a parabolic trough know-how is due to be commissioned at the end of 2011 and the beginning of 2012. The power generated by these plants will be able to power more than 52,000 houses located in the vicinity and prevent generation of around 63,000 tons of carbon dioxide.
Solar Project
Both the companies involved in the joint venture have recently cleared off the total capital financing required for the project. They roped in the participation of 12 financial companies such as Unicaja, Banco Santander, Societé Générale, Banesto, SMBC, Bankinter, La Caixa, Barclays, Crédite Agricole Corporate and Investment Bank, Cajasol, and Caja Madrid.
Santiago Seage, CEO of Abengoa Solar said that arranging of financial commitments from leading financial companies shows the faith of the financial sector in quality green energy projects. Frank Mastiaux, E.ON Espana’s President said, that the fast progress made in the construction schedule suggests that the companies in the partnership will build quality power plants according to the schedule. He added that the partnership will help E.ON to include solar in its renewable energy growth plan.