WestLB Madrid closed a new CSP plant
WestLB Energy Madrid, as Mandated Lead Arranger together with a number of banks including BBVA, Santander, La Caixa and ICO closed the €286mm project financing deal sponsored by Ibereolica Solar, S.L. (50%) & Genera Avante, S.L. (50%).
WestLB was invited to join a club of banks to finance development, construction and operation of a 50MW solar thermal power plant in Extremadura, Spain. The plant consists of a 50MW conventional steam turbine and a solar field of 510,120 m² of trough collectors: parabolic mirrors concentrating the solar radiation onto absorber tubes, in which synthetic oil is heated. The thermal energy of the solar field transmitted by the oil is used to produce steam to feed the turbine. Additionally natural gas is used for reheating the system keeping temperatures above certain levels and for producing power with the legal limitation of max. 15% of plant’s output.