Release date: 11 March 2009
Promoter – Financial Intermediary
Hyperion Management SLLocation
Description
The project concerns the parallel development, construction and operation of two identical large–scale concentrated solar thermal power (CSP) plants, each with a capacity of 50 MWe. The plants will apply parabolic solar trough technology, similar to that of Andasol 1 and Solnova 1 and 3 projects. Through the parabolic trough collectors the energy content of solar irradiation will be collected by a heat transfer fluid, flowing in special glass tubes (receiver). The fluid will dissipate its energy on to a conventional steam cycle, which will then generate electricity.
Objectives
The development of renewable energy will support EU and national targets for renewable energy generation and contribute to environmental and security of energy supply objectives. Electricity generation from concentrated solar power will displace fossil fuel-fired generation and the associated emissions of greenhouse gases and other emissions (SO2, NOx).
Sector(s)
Proposed EIB finance (Approximate amount)
Up to 50% of project cost.
Total cost (Approximate amount)
Approximately around EUR 530 million.
Environmental aspects
The project falls under Annex II of Directive 85/337/EEC, as amended by 97/11/EC and 2003/35/EC, which leaves the requirement for an Environmental Impact Assessment (EIA) to be determined by the competent national authorities. In this case the Spanish authorities have required an EIA to be carried out. The outcome of the EIA procedure was favourable and the environmental authorisation was awarded in April 2008. Details of the environmental assessment procedures applied and any potential impact on sites of nature conservation will be reviewed during appraisal.
Procurement
Neither the promoter nor the special purpose companies are subject to EU Procurement Directives. Suitable procurement procedures, including an appropriate selection of works, goods and services offered at competitive prices should be applied in the project’s best interests. Details will be verified during appraisal.
Status
Signed - 21/07/2011
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).