Abengoa Solar has said that its new Solnova 4 Concentrating Solar Power plant, using parabolic trough technology will begin construction in September, 2008 with a 50MW power output capacity. Abengoa Solar said that it has finalized the funding for the new plant planned in Saville from 14 banks in its latest funding round.
“More than half of the 300 megawatts planned for our Solúcar platform are under construction,” said Santiago Seage, Chairman of Abengoa Solar. “The PS10 is already operational and with Solnova 4 we will have 170 megawatts under construction”.
Amando Sánchez Falcón, Abengoa CFO, stated that, “this deal is just another example of Abengoa’s ability to continue financing operations in a difficult environment. The confidence that the financial institutions place in the combination of Abengoa Solar’s technology and operational leadership and Abengoa’s construction capabilities is one of the keys to the success of this deal”.
The institutions involved in the financing are Banesto, Caja Madrid, Calyon, Dexia Sabadell, ING, Kfw, Ladesbank, Natixis, Santander, Société Générale and Ubibanca for the construction and start-up of Solnova 4, and La Caixa, Sumitomo and West LB for the photovoltaic plants.