GE and German fund link for $157m Spanish CSP investment

GE Energy Financial Services and KGAL will invest equity in Extresol II, developed by Spain-based ACS, Europe’s largest developer, builder and operator of solar thermal power plants. Additional financial details were not disclosed.

An ACS subsidiary, Cobra, finished construction of Extresol II in December 2010 and provides operations and maintenance services to the plant.

“This transaction complements our growing European renewables portfolio and brings with it a different technology – concentrated solar power with salt storage – working with strong local partners,” says Andrew Marsden, a managing director at GE Energy Financial Services.

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