Banco Santander takes $125m stake in Arizona CSP project

Banco Santander of Spain will invest $125m in the 280MW Solana concentrating solar power (CSP) project in the US.

Spanish developer Abengoa says the bank will make the investment via its subsidiary Capital Riesgo Global, which will become an equity stakeholder in the $2bn project in Arizona.

Solana – which is due to begin generating power by summer 2013 – will be the first solar plant in the US to include energy-storage capability, according to Abengoa.

When operational it will supply enough power for 70,000 homes from its array of parabolic troughs. Utility Arizona Public Service (APS) has signed a deal to buy the output from Solana.

In December 2010 the Log in to read complete article.

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