Andasol Solar Thermal Power Project

signed

The project will be the first large-scale commercial thermal solar power plant to be developed in Europe. It will incorporate state-of-the-art technology with a sizeable European content. The overall project proposed to the Bank concerns a new concentrating solar thermal power (CSP) generation plant with a capacity of 50 MWe, to be developed in a wide valley north of the Sierra Nevada, some 60 km south-east of Granada. The project will benefit from Spanish legislation that provides a fixed tariff for solar thermal power generation equivalent to 3 times the reference tariff in Spain, guaranteed for 25 years, which secures the financial viability of the project.