History | Torresol Energy

History

Torresol Energy started to take shape in 2007, when SENER decided to develop its own solar thermoelectric facilities and apply its most innovative technological developments in them, thus allowing them to test their efficiency on a commercial scale. Thus, SENER committed to investing in its own technology in the long term, building and operating the most innovative, efficient and cost-effective solar thermoelectric plants. To undertake this important task, the company identified MASDAR as the perfect partner. Both companies shared the same vision on developing thermoelectric solar power. Given that it came from an inexhaustible, completely clean and globally abundant source, and thanks to technological advances that allowed it to be manageable, and also having managed to store it in the form of heat, the companies were aware that it could become one of the main sources of energy on a global level.

As a result, Torresol Energy was founded in 2008, 60% of which being held by SENER and the remaining 40% by MASDAR.

In 2008 they started to build the Gemasolar plant in the province of Seville (Spain). In spring 2009 they started to build two more plants in the province of Cádiz (Spain); Valle 1 and Valle 2, equipped with parabolic trough collectors, specifically with the SENERtrough® system.

For all of these projects, which were set in motion throughout 2011, and whose investment practically reached 1 billion euros, Torresol Energy closed long-term funding lines under the ‘Project Finance’ method, which gave it the continued support of both Spanish and international financial institutions.

The company’s operational efficiency allowed it to negotiate regulatory changes, adapting the financial structure of the businesses to the new environment, thus making it possible to continually exploit the facilities and ensure their profitability.