Such investment includes the Solúcar plant, amounting to an impressive 300 MW of capacity, where 1.2 billion euros will been invested. The plan also includes two solar plants in Écija, totalling 100 MW and almost 600 m euros. Last, but not least, it includes a solar - combined cycle hybrid plant in Algeria and several solar PV plants in Spain.
500 m euros have already been used. In Solúcar, a plant called PS-10 that boasts 11 MW, started its operations earlier this year, becoming the first commercial solar tower. Not far from it, PS-20 is already being constructed (a 165 m tower has already been erected on the site). Likewise, the construction of Solnova 1 and Solnova 3, totalling 50 MW each, has also started.
Abengoa is at the moment negotiating with some financial institutions in order to raise the necessary funds to build all the plants. On top of that, the company has allocated 50 m euros for R&D projects to be developed in the coming years, "which will allow the company to become a main stakeholder in the development of clean energy". Abengoa Solar employs over 40 people in its R&D department, which collaborates with several research centers. "The solar energy industry is developing and we need to invest in R&D in order to improve the technology and lower the costs", added Mr Seage.
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