FRANKFURT, Nov 25 (Reuters) - Spanish renewable energy company Abengoa said on Wednesday it won German utility E.ON as a partner for two solar power plants in southern Spain in the company's first joint-venture with another utility.
E.ON will pay half of the overall investment of 550 million euros for the two plants, which have a capacity of 50 megawatts each, giving Seville-based Abengoa access to the finance power of the world's largest utility by sales, the companies said in a statement.
Abengoa has already started building the two plants in Ecija, close to Seville, and plans to start producing power in 2011 and 2012 respectively with the power stations.
Abengoa and E.ON said they plan to extend the partnership to further develop solar power.
The plants use the sun to generate steam that power turbines to generate power, a technology called solar-thermal as opposed to solar cells.
(Reporting by Peter Dinkloh and Tom Kaeckenhoff, writing by Peter Dinkloh) Keywords: ABENGOA E.ON/ (peter.dinkloh@reuters.com; +4969 7565 1345; Reuters Messaging peter.dinkloh.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.
E.ON will pay half of the overall investment of 550 million euros for the two plants, which have a capacity of 50 megawatts each, giving Seville-based Abengoa access to the finance power of the world's largest utility by sales, the companies said in a statement.
Abengoa has already started building the two plants in Ecija, close to Seville, and plans to start producing power in 2011 and 2012 respectively with the power stations.
Abengoa and E.ON said they plan to extend the partnership to further develop solar power.
The plants use the sun to generate steam that power turbines to generate power, a technology called solar-thermal as opposed to solar cells.
(Reporting by Peter Dinkloh and Tom Kaeckenhoff, writing by Peter Dinkloh) Keywords: ABENGOA E.ON/ (peter.dinkloh@reuters.com; +4969 7565 1345; Reuters Messaging peter.dinkloh.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.