Solel Solar Systems, Ltd. and Sacyr-Vallehermoso have signed an agreement to build three solar thermal plants in Spain with a total capacity of 150MW and at an estimated overall value of US$890 million.
Solel’s scope of supply for all three projects is estimated at around US$500 million. Based in Israel, this marks Solel’s first turnkey power project to be delivered in Spain on a Build, Own and Operate (BOO) basis. The project also enables Solel to act as provider of solar energy in Europe for the first time.
The current price per kilowatt/hour for produced solar thermal electricity in Spanish electricity projects stands at 30 cents. The rate is subsidized by the Spanish Government for a period of 25 years in order to support & encourage the innovation and implementation of alternative domestic energy sources, clean electricity and to support local electricity production.
“Solel is delighted to be working with a highly reputable infrastructure company in Europe such as Sacyr,” said Avi Brenmiller, CEO of Solel Solar Systems. “We believe that the combination of cutting-edge solar technology, know-how and solutions from Solel, combined with the local knowledge and construction expertise of Sacyr will have a significant positive impact on the installation and delivery of highly efficient, clean energy projects of this type, both in Spain and other countries. We hope to successfully replicate this BOO model in other markets in the coming years.”
Solel is a leader in solar thermal technology for central power generation. The Solel parabolic trough thermal technology has been proving itself for the last twenty years, producing 350 MW of utility scale power in California’s Mojave Desert.
Sacyr Vallehermoso is one of the European biggest construction groups.
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