WASHINGTON, Oct. 2, 2013 /PRNewswire/ -- Abengoa (MCE:
ABG.B), the international company that applies innovative
technology solutions for sustainability in the energy and
environment sectors, has added Liberty Interactive Corporation
("Liberty") (Nasdaq: LINTA, LINTB, LVNTA, LVNTB) as an investor in
Solana, the largest parabolic trough solar plant in the world.
Solana, which is in its final testing phase, has a total installed
capacity of 280 gross megawatts (MW) and will be the first solar
plant in the United States with
thermal energy storage. During these final tests, the concentrating
solar power (CSP) plant is demonstrating that it will generate
electricity during the day and night, and its capacity to store
energy and adapt to consumption demands.
Liberty's $300 million investment
in the limited liability company that holds Solana has been
approved by the U.S. Department of Energy (DOE) and the Federal
Energy Regulatory Commission (FERC). Abengoa will continue as
managing partner and will be responsible for the management,
operation and maintenance of the plant. The total investment in the
plant is approximately $2 billion and
during financing, received a federal loan guarantee for
$1.45 billion. Liberty's investment
is attributed to its Liberty Ventures Group.
One of the advantages of CSP over other renewables is its
ability to store energy efficiently. The thermal storage system
makes the energy generated dispatchable, permitting plant operation
during transient periods or after sundown. This dispatchability
eliminates the intermittency that other renewables, like wind or
photovoltaics, experience and thus the electricity generated from
CSP plants has a higher value.
Solana is located near Gila Bend,
Arizona. Parabolic trough technology is a mature
technology that enables clean energy to be produced and stored.
Solana's thermal energy storage system has the capacity to store
energy for six hours at maximum power, which will allow the plant
to generate dispatchable electricity throughout the day and night.
The six hours of storage will be able to satisfy the region's peak
electricity demands during the summer evenings and early night time
hours.
Arizona Public Service (APS), the largest utility in
Arizona, will purchase all of the
electricity produced by the solar plant through a power purchase
agreement with Solana.
Solana will generate clean energy equivalent to that needed to
power 70,000 households and will prevent about half a million tons
of CO2 from being emitted into the atmosphere per year.
Also, Solana has reduced water consumption to less than 25 percent
of that consumed when the land was previously used for agricultural
purposes. These reductions will help reach state renewable
energy goals, as well as reach the U.S. national goals for climate
change mitigation.
Furthermore, the construction of Solana, which began in 2010,
led to the creation of more than 2,000 jobs and a national supply
chain that spans 165 companies in 29 states.
Abengoa currently has 931 MW of CSP in operation and 710 MW
under construction. It is the largest CSP company in the world and
one of the few that constructs and operates both solar tower and
parabolic trough plants.
About Abengoa
Abengoa (MCE: ABG.B) applies innovative technology solutions for
sustainability in the energy and environment sectors, generating
electricity from renewable resources, converting biomass into
biofuels and producing drinking water from sea water.
(www.abengoa.com)
Communication
Department:
|
Investor
relations
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Patricia Malo de
Molina Melendez.
|
Barbara Zubiria
Furest.
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Tel: +34 954 93 71
11
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Tel: +34 954 937
111
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E-mail:
communication@abengoa.com
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E-mail:
ir@abengoa.com
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SOURCE Abengoa