Egypt's gold reserves surge to $17.252 bln in November – CBE    Egypt plans new policies to drive private sector growth in tourism, energy, health    Egypt launches industrial cash incentive to draw FDI    Egypt's pound inches up against dollar in early Sunday trade    Egypt joins Japan-backed UHC Knowledge Hub to advance national health reforms    Eight Arab, Muslim states reject any displacement of Palestinians    SCZONE chair showcases investment opportunities to US institutions, companies    Egypt launches 32nd International Quran Competition with participants from over 70 countries    Al-Sisi reviews expansion of Japanese school model in Egypt    Egypt launches National Health Compact to expand access to quality care    US warns NATO allies against 'bullying' American defence firms amid protectionism row    Netanyahu's pick for Mossad chief sparks resignation threats over lack of experience    United Bank to roll out specialised healthcare financing packages, including green financing: Kashmiry    Egypt declares Red Sea's Great Coral Reef a new marine protected area    Egypt recovers two ancient artefacts from Belgium    Egypt assumes COP24 presidency of Barcelona Convention    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date    Al-Sisi urges probe into election events, says vote could be cancelled if necessary    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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UAE, Spain venture agree on $5 billion solar spending
Sharifa Ghanem Published in Bikya Masr on 19 - 01 - 2012

DUBAI: A joint venture between Spain's Sener and Abu Dhabi's Masdar, Torresol Energy, announced on Wednesday that it would invest some $5 billion in construction of concentrated solar power plants in Spain, the United States and across the Middle East.
Torresol's President Enrique Sendagorta said at a press conference that the company was looking to produce an additional 6,000 megawatts of power over the coming three years.
One of the plants will be built in Abu Dhabi, company officials told Bikyamasr.com on the sidelines of the conference.
“We are developing a pipeline of projects in Spain, the US and in the Middle East North Africa (MENA) region,” Sendagorta said at the World Future Energy Summit in Abu Dhabi.
“The investment would range between $3.5bn to $5bn,” he said.
The company added that it was optimistic of getting the necessary funding for the projects.
“Despite the ongoing economic troubles facing much of the world, we believe we can achieve our goals as foreign banks are becoming more interested in financing solar power projects because it is a winning investment,” the official told Bikyamasr.com.
Torresol Energy, a 60/40 joint venture between Sener and Abu Dhabi government owned green energy firm Masdar, connected two new 50 MW solar plants in Spain to the grid earlier this month.
BM
ShortURL: http://goo.gl/QBF7i
Tags: featured, Masdar, Solar Power, Spain
Section: Environment, Europe, Going Green, Latest News, United Arab Emirates

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