MADRID, May 6 (Reuters) - Spanish engineering company Abengoa said on Tuesday it had begun building two 50-megawatt solar power plants in southern Spain capable of supplying 52,000 homes.
Banking sources told Reuters Loan Pricing Corp in March that Abengoa had been seeking a loan of 440 million euros ($585.9 million) to finance construction of the two plants, Helioenergy 1 and Helioenergy 2.
Abengoa officials were not immediately available for comment on financing, but the company locked in finance last August for the three other 50 MW plants.
The five 50 MW plants all use parabolic troughs to concentrate solar power. Together with a 10 MW and a 20 MW power tower, and another 20 tower under construction, they are part of the 'Solucar' complex which aims to generate 300 MW by 2013.
Power towers, which collect the sun's rays from mirrors, and parabolic troughs are both forms of concentrated solar power (CSP).
Most solar power stations use photovoltaic (PV) panels, which convert the suns rays directly into electricity, but analysts say CSP could take the lead in future because it produces more electricity and may be more cost effective.
Spain is now the world's second largest PV producer after Germany with some 3,200 MW installed, which supplied 3.2 percent of the country's electricity in April.
It has also become the world's third biggest wind power producer as part of a bid to cut greenhouse gas emissions and reduce its heavy dependence on imported energy.
(Reporting by Martin Roberts) ($1=.7510 Euro) Keywords: SPAIN SOLAR/ (martin.roberts@thomsonreuters.com; +34 91 585 2130; Reuters Messaging: martin.roberts1.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Banking sources told Reuters Loan Pricing Corp in March that Abengoa had been seeking a loan of 440 million euros ($585.9 million) to finance construction of the two plants, Helioenergy 1 and Helioenergy 2.
Abengoa officials were not immediately available for comment on financing, but the company locked in finance last August for the three other 50 MW plants.
The five 50 MW plants all use parabolic troughs to concentrate solar power. Together with a 10 MW and a 20 MW power tower, and another 20 tower under construction, they are part of the 'Solucar' complex which aims to generate 300 MW by 2013.
Power towers, which collect the sun's rays from mirrors, and parabolic troughs are both forms of concentrated solar power (CSP).
Most solar power stations use photovoltaic (PV) panels, which convert the suns rays directly into electricity, but analysts say CSP could take the lead in future because it produces more electricity and may be more cost effective.
Spain is now the world's second largest PV producer after Germany with some 3,200 MW installed, which supplied 3.2 percent of the country's electricity in April.
It has also become the world's third biggest wind power producer as part of a bid to cut greenhouse gas emissions and reduce its heavy dependence on imported energy.
(Reporting by Martin Roberts) ($1=.7510 Euro) Keywords: SPAIN SOLAR/ (martin.roberts@thomsonreuters.com; +34 91 585 2130; Reuters Messaging: martin.roberts1.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.