Grupo Ibereolica has strengthened its foray into the solar thermal industry with its involvement with a dual project that will see an additional 100MW of capacity on Spain’s solar portfolio. Grupo Ibereolica has signed an agreement with Inveravante, a private energy, finance and real estate conglomerate, for the joint construction of two 50MW CSP solar thermal plants, one in Seville, Andalucia, the other in Badajoz, Extremadura.
Construction on the two 50MW plants will start immediately, as all permits and authorisations have been granted. The projects will use parabolic trough technology, and future additions such as upgrading to salt storage and biomass hybridisation in order to increase nighttime production have been discussed.
The two companies plan to build and operate eight solar projects in Spain. The €600 million investment guarantees Inveravante a 50% stake in the two plants, which are the first of eight such projects planned for construction in Spain. This agreement between the two companies stipulate that Inveravante may repeat this development procedure for two such plants in the future.