Spanish engineering group Sener Grupo De Ingenieria SA and Masdar, Abu Dhabi’s alternative energy company, have announced a joint venture named Torresol Energy to design, build and operate concentrating solar power (CSP) plants in the world’s sunbelt regions.

One of Torresol Energy’s primary objectives is to widen the adoption of CSP and make it more compatible with grid parity.
This joint venture will commence work on three solar power plants in Spain with an approximate combined value of $1.24 billion, one of which will be a CSP Central Tower Receiver System. This technology will feature the first-ever commercial deployment of the industry-changing technology, and will set the standards for an anticipated 500 MW of CSP projects across the sunbelt countries by 2012. Independently of Torresol Energy, Masdar is developing CSP plants in Abu Dhabi, and their flagship plant “Shams 1” is expected to be completed in the fourth quarter of 2010.
In every new project Torresol Energy expects to introduce and test new technologies with the long-term objectives of making CSP a very competitive and reliable technology, achieving a sustainable leading position in this sector and contributing to the protection of the environment for future generations. Sener has been working for almost a decade in the development of solar thermal power technology.
Sener president and CEO Jorge Sendagorta, and Masdar CEO Dr Sultan Al Jaber announced the launch of Torrresol Energy in joint remarks at the Diputaciَn Foral de Bizkaia, where the press conference was held. Sultan M. Al-Qortasi, the UAE ambassador to Spain, attended the event as guest of honour. Sener will own a 60 per cent share of Torresol Energy, with Masdar holding the remainder of the stake. A privately owned engineering and technology group, Sener was founded in Bilbao (Spain) in 1956. It has three major business lines include environmental & energy, engineering and aerospace with sales of 790 million euros.