Abengoa Solar completes financing for Solnova 4 plant

Abengoa Solar has completed the financing of its new Solnova 4 Concentrating Solar Power plant, worth more than €210 million.

The institutions involved in the financing are Banesto, Caja Madrid, Calyon, Dexia Sabadell, ING, Kfw, Ladesbank, Natixis, Santander, Société Générale and Ubibanca for the construction and start-up of Solnova 4.

The Solnova 4 plant's construction will begin in September at the Solúcar platform in Sanlúcar la Mayor (Seville). It will have 50 megawatts of power output capacity and will use the same parabolic trough technology as the Solnova 1 and Solnova 3 plants already under construction.

Solnova 1 and 3 are trough plants, each having 300,000 m2 of collector area that covers 297 acres (120 hectares) of land.

More than half of the 300 megawatts planned for its Solúcar platform is under construction.

"The PS10 is already operational and with Solnova 4, we will have 170 megawatts under construction," said Santiago Seage, Chairman of Abengoa Solar. The PS 10 solar plant incorporates thermal storage that allows full production for 30 minutes. Thermal storage can boost power production under low radiation conditions.

Within the Sanlúcar Platform, company's six plants are still under development. These are follows:

·          Solnova 2, 4, 5 (150 MW): Four 50 MW plants each, based on trough technology, similar to Solnova 1.

·          AZ20 (20 MW): Tower technology plant with similar characteristics to PS20.

·          Aznalcóllar TH (80 kW): Plant based on dish Stirling technology. CSP plant with dish.

The company shared that it has also completed financing for three new photovoltaic plants worth more €70 million. The three photovoltaic facilities are located in the towns of Sanlúcar la Mayor (Seville), las Cabezas de San Juan (Seville) and Linares (Jaén), and will use photovoltaic tracking technology. La Caixa, Sumitomo and West LB are the institutions involved in the financing for these photovoltaic plants.