Back 25/03/2019 Biomass

Greenalia awarded as the best european biomass project

Last Thursday, March 21, Greenalia received the IJGlobal Award for the Best European Biomass Project of the year 2018 – European Biomass Deal of the Year – for its Curtis-Teixeiro plant, located in A Coruña.
The award recognizes the Galician project of Greenalia as one of the best international operations in infrastructure and energy. The awards are organized annually by the international publication IJGlobal, specializing in investments and project financing.

Greenalia has been highlighted as one of the most ambitious projects in Europe. The biomass plant of Curtis-Teixeiro is currently the most important in construction in Europe for this type of technology, and whose financing has obtained the highest rating (E1) as a green loan -by Standard & Poor’s. It has also been the first biomass project financed, from its inception, through the Project Finance modality and allowed Greenalia to become the first SME to issue a green bond in Europe.

The electrical installation of biomass will mean an investment of 135 million euros and will produce 50 MW in full activity, the equivalent energy to supply a population of more than 250,000 people. Until its commissioning, in March 2020, it will generate more than 1,000 employees (between direct and indirect jobs).

The plant is currently under construction phase and it is planned to complete the civil works in September to start operating six months later.
Greenalia has estimated to obtain a recurring income of over 910 million euros over 25 years for the electricity sales and 295 million for the supply of forest biomass for the subsidiary of the Group, Greenalia Forest.
The awards ceremony was held on Thursday, March 21 at the Natural History Museum in London, with the participation of numerous world’s energy and infrastructure representatives.

During the event, Manuel García, CEO of the company, stated that “Greenalia is proud to have been selected as the best European Biomass project. Our plant in Curtis-Teixeiro is one of the largest in Spain and the first in its technology. This project goes beyond electricity generation, is a reality that will generate environmental, economic and social benefits, promoting the generation of employment, economic growth where it is located and contributing to the production of clean energy and the prevention of forest fires”.

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