Investment in 2 Concentrated Solar Projects in Spain
InfraRed Capital Partners is delighted to announce that financial close has been reached to acquire equity participations in 2 concentrated solar projects (CSP) in Spain, located at Morón de la Frontera in Andalucia and at Olivenza in Extremadura.
The CSP plants use the commercially-proven parabolic trough technology where trough-shaped mirrors concentrate the sunlight onto receiver tubes in which a thermal heat transfer fluid is heated to c.400?C. This produces superheated steam which drives a steam turbine. The plants are each being constructed by a joint venture between Acciona and Idom and are scheduled for completion in Summer 2012. Funding of in excess of €500m is provided through a combination of shareholder funds and senior debt from two banking clubs.
Richard Crawford, Director, Infrastructure, said: “We are delighted to be acquiring equity interests in these two CSP projects. These are utility-scale developments which, when constructed, will provide in aggregate up to 100MW of renewable”.