Torresol Energy, a joint venture between SENER and Masdar, is reportedly looking for a Eu110 million ($138.83 million) loan from European Investment Bank (EIB).

As per the latest update on its website, the financial institution has referred to Thermosolar Gemasolar Spain project.

For the project, which concerns the implementation of a solar thermal power generation plant with a capacity of 17 MW, to be developed near Seville, the proposed EIB finance  is up to EUR 110 million. The total cost is "generally estimated at over EUR 200 million." (The project falls under Annex II of Directive 85/337/EC, as amended by 97/11/EC and 2003/35/EEC, which leaves the requirement for an Environmental Impact Assessment (EIA) to be determined by the competent national authorities, according to the selection criteria established in Annex III of the Directive. In this case the Spanish authorities have required an EIA to be carried out, including the new 66kV line).

As per the recent entry on its website, in terms of status, the project is under appraisal.

Earlier this year, after several months of negotiations that paved the way for the creation of Torresol Energy, Sener and Masdar made public the founding of their joint venture company. It is to develop CSP plants using the Spanish engineering group's technological innovations, both in cylindrical – parabolic collectors (CPC) and its system of

a central receiver tower and heliostat farm. In March, it was shared that this JV is to work on three solar power plants in Spain with an approximate combined value of €800 million, one of which will be a CSP Central Tower Receiver System.