Extremadura, Spain [RenewableEnergyWorld.com] Sunstroom Energy Investments has confirmed that it is planning to build a 50-megawatt (MW) solar thermal electricity plant in Saucedilla, Cáceres, in the Extremadura province of Spain. The company aims to raise over €300 million [US $428.8 million] to fund the project.
The Extremadura solar thermal park will cover a surface area of 271 hectares. Called Thermostroom 1, the project will will use parabolic trough CSP technology. Thermostroom 1 has full support from local municipalities and mayors. This political support already has helped Sunstroom to secure a lease on the site, along with outline planning, environmental and operational permits.
Construction of Thermostroom 1 is expected to take 24 months and, once fully operational, it will generate a projected annual revenue of approximately €36 million. The tariff paid by Sunstroom’s utility partners for the project’s renewable electricity output is guaranteed by Spanish law at €0.2784 per kWh during the first 25 years of the installation, and then at 75% of this level for the rest of the project life (approximately 40 years).