Two large US and Euro funds are ploughing €111.1 million into a solar power ‘trough’ in Spain. USA-based GE Energy Financial Services and German fund KGAL are investing in the 50MW solar power plant, the firms announced today.
The plant makes energy from a molten salt energy storage in giant parabolic, or curved, troughs that concentrate sunlight. It generates enough renewable electricity to power approximately 37,900 average Spanish households.
GE said that investing in renewable energy is a way “to create value for customers by solving energy, efficiency and water challenges.”