The Environment News Service (ENS), reports construction of the first large-scale commercial solar thermal power plant in Europe will soon begin in Spain, about 60 kilometers (40 miles) from the southern city of Granada.The European Investment Bank announced Thursday that it is providing a first 60 million euro instalment of funds to the project.
The new concentrating solar thermal power generation plant will have a net capacity of 50 megawatts of electricity.
The finance is being provided to the special purpose company AndaSol-1 Central Termosolar Uno, S.A.. This company is 75 percent owned by ACS, the third largest construction company in Europe. The remaining 25 percent is owned by Solar Millenium, a German a technology and services company that specializes in large-scale solar thermal power plants.
