Abengoa has completed the financing on two 50-megawatt (MW) concentrating solar power plants. Located on the Castilla-La Mancha Solar Platform in the province of Ciudad Real, Spain, the plants will come into operation in the second half of 2012.
The entities participating in the financing are the Spanish banks Banco Santander, Banesto, Bankia, Banca Cívica and the ICO; the German banks KFW and Helaba; and the Portuguese bank Banif.
In the last year, Abengoa has begun construction on ten concentrating solar power plants with a total capacity of 780 MW and a combined investment of more than four billion Euros. 25 banks and international institutions have been involved in the non-recourse project financing for these plants.
At present, Abengoa has 331 MW of concentrating solar power in operation and 780 MW under construction in Spain, USA, North Africa and the Middle East. These 16 plants in operation and under construction make Abengoa a world leader in the concentrating solar power market.
Manuel Sanchez Ortega, CEO of Abengoa, said, “It is very satisfying to have the continuing trust of financial institutions in our projects in a much more selective economic environment. The start of construction on these two plants will strengthen our presence in Castilla-La Mancha and we continue to fulfill the plans that we have outlined to investors”.
Abengoa completes financing to begin two 50MW concentrating solar power plants