Spain has one of the largest solar thermal deployments. Add Abu Dhabi money, you get Torresol Energy:
Note to Silicon Valley’s solar thermal startups: Masdar is coming. Abu Dhabi’s alternative energy initiative Masdar and Spanish engineering group Sener said Wednesday they’re creating a joint venture to build solar thermal power plants. Sener will own 60 percent of the new partnership, known as Torresol Energy; Masdar will have a 40-percent stake.
Torresol will start work on three solar thermal power plants in Spain, representing a whopping €800 million (or $1.24 billion) investment. And as a rep from the company stressed to us, this figure has been upwardly revised from the €500 million cited in the release.
It’s not clear what the $1.2 billion represents, or whether all the money came from Masdar. But it’s big…
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