Abengoa strengthens Spain’s presence in China and Chile

Abengoa thermosolar technology

Beyond their clear geographical and cultural differences, China and Chile have three things in common. Firstly, an interest in the search of different energy sources and curbing environmental pollution. Secondly, the fact that they have found the answer to their energy needs in solar thermal technology, and lastly, that in order to reach these targets they have both put Spanish company Abengoa in their radar.

Solar thermal energy supply in China

Recently, Abengoa was selected to supply technology and develop the engineering in two projects in the People’s Republic of China.

The first entails supplying technology and develop the engineering for the Luneng Haixi State 50 MW molten salt tower Concentrated Solar Power project in the province of Qinghai. It also contemplates providing technical support during construction. The project is being developed for SEPCO III Electric Power Construction Corporation.

This ambitious project is part of the renewable power program launched by the Chinese government, with the goal of reaching a solar thermal installed capacity of 27 GW in 2030.

Developer LuNeng Group is a subsidiary owned by State Grid Corporation of China. This organization has focused on the real estate and energy sector since 2002.

A solar thermal plant in the province of Gansu

On the other hand, Abengoa will be in charge of providing the technology for the E2 new generation collector, engineering development, and providing technical support for the Royal Tech Yumen project, a 50 MW solar thermal parabolic trough plant located in the province of Gansu.

This project will be developed for Shuangliang Royal Tech CSP Technology Co., Ltd (SRT); a company dedicated to investigating and promoting solar thermal concentration technologies.

This development is part of the thermos solar Demonstration Program launched by the Chinese Government, which is being deployed with the development of a first batch of 20 projects totaling 1.35 GW.

Chile is also betting on Abengoa

Through a consortium formed to this end, Abengoa and Acciona signed a contract to finish the construction of Chile’s Cerro Dominador solar thermal power plant.

This consortium, led by Acciona Industrial with a share of 51 percent, will be in charge of building the 110 MW solar thermal installation with Abengoa technology. It will be the first facility of its kind in Latin America.

The solar thermal tower will be added to the existing 100 MW PV solar plant built by Abengoa, which was commissioned in February 2018. This collaboration will give way to forming a 210 MW renewable energy complex that will be the first in the continent to combine these energies.

Significant reduction of CO2 emissions

This project will enable to generate clean energy in an effective manner for 24 hours. It will have offer molten salts thermal energy of 17.5 hours. The field, which covers a surface of 146 hectares, has 10,600 heliostats that will redirect solar radiation to a receiver located at a height of 252 meters.

The Cerro Dominador complex is located in Maria Elena, in the Atacama Desert, Antofagasta Region. This area has one of the world’s highest radiation rates.

This solar thermal plant will generate clean energy that will prevent the emission of 640,000 tons of CO2 per year into the atmosphere. Overall, the complex will prevent the emission of 870,000 tons of carbon dioxide a year. Furthermore, it will provide clean energy through 15-year power purchase agreements with distributing companies, signed back in 2004.

An ambitious 10-year plan

Abengoa prepared a 10-year feasibility plan in which the company, within its financial restructuring, plans to get a turnover of €4.2 billion by 2028; compared with the €1.4 billion it forecasts for 2019, according to the Spanish National Stock Market Commission.

Although the firm expects to nearly triple its business volume throughout the next decade, it does not expect the same for the EBITDA.

According to the document, Abengoa will close 2019 with an EBITDA of €164 million, expecting it to increase to €295 million by 2028, less than double.

For more information, check Energía16  

See also: Cepsa and Masdar to collaborate in the development of renewable projects in Spain and Portugal       

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