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Dubai: Spanish engineering group Sener Grupo de Ingenieria and Masdar, Abu Dhabi's alternative energy company, yesterday said they have set up a joint venture company - Torresol Energy - to design, build and operate concentrating solar power plants in Spain.
One of Torresol Energy's primary objectives is to widen the adoption of CSP and make it more compatible with grid parity.
This joint venture will commence work on three solar power plants in Spain with an approximate combined value of 800 million euros (($1.23 billion), one of which will be a CSP central tower receiver system.
This technology will feature the first-ever commercial deployment of the industry-changing technology, and will set the standards for an anticipated 500 megawatts (MW) of CSP projects by 2012. Independent of Torresol Energy, Masdar is developing CSP plants in Abu Dhabi, and their flagship plant Shams 1 is expected to be completed in the fourth quarter of 2010.
In every new project, Torresol Energy expects to introduce and test new technologies with the long term objectives of making CSP a very competitive and reliable technology, achieving a sustainable leading position in this sector and contributing to the protection of the environment for future generations.
Sener has been working for almost a decade in the development of solar thermal power technology. The company is presently designing and building, in a joint venture, three 50 MW parabolic through plants with molten salt storage in Spain. Sener has also devised and tested innovative solutions for CSP tower plants and has started the detailed design of central receiver plants. The company expects to apply all these solutions in Torresol Energy projects and also for clients worldwide.
Sener will own a 60 per cent share of Torresol Energy, with Masdar owning the remaining 40 per cent.
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