Thermostroom 1, will utilise a concentrating solar power technology so that parabolic mirrors can capture heat from the sun. The stored heat, in the form of steam, in turn will drive the turbine to produce electricity.
Thermostroom 1 has full support of the local government. This support has led to Sunstroom Energy securing a lease on the site, along with outlining planning, environmental and operational permits.
The tariff paid by the company’s utility partners for the electricity output is guaranteed by Spanish law at 27.84 cents per kilowatt (inflation proof) during the first 25 years of the installation, and then at 75 per cent of this level for the rest of the project life. The project’s life is expected to be 40 years.
Sunstroom Energy Managing Director Iain Morrison said “we are confident that the Extremadura park will be yet another highly profitable project, generating consistent returns for our investors over its 40-year life.”
