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
