The Curtis Teixeiro biomass plant, one of the most important renewable energy projects in Europe, has now entered its final stretch with the start of the first system tests. It is scheduled to start operating in the first quarter of 2020.
With an investment of 135 million euros, it is built on a 103,000 square metre plot and has a power generation capacity of 50 MW, equivalent to supplying a population of more than 250,000 inhabitants.
The plant incorporates the latest technological innovations applied to biomass infrastructures for electricity generation, complying with the most restrictive European regulations. It is a highly efficient facility in terms of generation and with a reduced level of CO2 emissions into the atmosphere. It is a dry cooling plant, which means that it consumes hardly any water and does not produce any waste.
Its financing obtained the highest rating (E1) as a green loan from the Standard & Poor’s rating agency. In addition, it was the first biomass project to be financed, since its inception, through Project Finance and allowed Greenalia to become the first SME to issue a green bond in Europe.
The energy producer estimates recurring revenues of more than 910 million euros over 25 years from the sale of electricity, to which should be added 295 million euros from the supply of forest biomass for Greenalia Forest.
During the construction process and until its start-up, the plant is generating more than 1,000 direct and indirect jobs, of which around 100 will remain permanent once the activity has started, 35 in the plant and the rest in the biomass collection activity.
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