EIB vice president (VP) Carlos da Silva Costa and the chairman of Torresol Energy, Enrique Sendagorta, has signed the finance contract in Madrid.
The EIB VP hailed “this important technological development, which chimes perfectly with EU energy policy and which the bank is proud to finance. New energy technologies are essential to meeting the EU’s climate change mitigation, energy security and corporate competitiveness targets”.
Enrique Sendagorta, Torresol Energy’s chairman, said “we are highly satisfied with the EIB’s support for the launch of Gemasolar, which is a truly innovative solar power plant and the world’s first commercial-scale project built with this technology. We are confident that central tower technology using molten salt offers the greatest development potential for the future”.
The storage system will allow independent power generation for up to 15 hours with no solar input while increasing energy efficiency by enabling electricity production for some 6 600 hours a year around 2.5-3 times as much as other renewable energies.
GEMASOLAR is a project of Torresol Energy Investment SA, owned 60% by SENER and 40% by Masdar.
