Solar

Masdar and Sener Announce CSP Venture

Spanish engineering group Sener Grupo De Ingenieria S.A. and Masdar have announced joint venture Torresol Energy. The new company will design, build and operate concentrating solar power (CSP) plants in the world’s Sunbelt regions. One of Torresol Energy’s primary objectives is to widen the adoption of CSP and bring it closer to grid parity.

Torresol will commence work on three solar power plants in Spain with an approximate combined value of €500 million [US $750 million], one of which will be a CSP Central Tower Receiver system. This project will facilitate an anticipated 500 megawatts of CSP projects across the Sunbelt countries by 2012. Sener will own a 60 percent share of Torresol Energy, with Masdar owning the remaining 40 percent.

“Masdar is committed to developing and delivering future energy solutions. The Torresol CSP technology promises to be one technology that can revolutionize the way we draw energy from the sun” said Masdar’s Dr. Sultan Al Jaber. “Partnering with Sener will accelerate our objective of creating the scale and technology improvements required for a wider adoption of CSP technology, while fulfilling our mandate to Abu Dhabi’s alternative energy program.”