Abengoa finalizes the largest solar complex in Europe
The company has closed financing for 200 million euros for the second phase of this complex.
WASHINGTON -- Abengoa (MCE: ABG.B), the company that develops innovative technology solutions for sustainable development in the energy and environment sectors, has begun operation of Solaben 1 and Solaben 6, two 50 megawatt (MW) parabolic trough plants located in Extremadura, Spain. The two plants belong to the Extremadura Solar Complex, the largest solar complex in Europe with 200 MW capacity, and produce enough clean energy necessary to fulfill the needs of 104,000 households.
Abengoa has also closed the non-recourse financing for both plants totaling 200 million euros, which will free up the equivalent amount of equity invested in these projects. This marks the first step in the company's recently announced divestment plan.
The plants at the Extremadura Solar Complex employ parabolic trough technology. Parabolic-shaped mirrors are set on structures that track the movement of the sun, and solar radiation is concentrated on a receiver tube. Inside the tube flows a heat-absorbing fluid which reaches approximately 750 degrees Fahrenheit. This fluid transfers the thermal energy to then transform water into steam, which drives a turbine to generate electricity.
Abengoa designs, constructs and operates its own plants, using parabolic trough, tower and photovoltaic technologies. With 22 plants in operation, Abengoa has a total installed capacity of 943 MW, as well as 710 MW under construction worldwide.
Abengoa (MCE: ABG.B) applies innovative technology solutions for sustainability in the energy and environment sectors, generating electricity from renewable resources, converting biomass into biofuels and producing drinking water from sea water. (www.abengoa.com)