Q-Energy buys 120 MW Spanish CSP projects

Spanish fund manager Q-Energy has acquired Torresol Energy Investments – the owners of 3 concentrated solar power portfolio in Spain – from Sener and Masdar.

The portfolio, located in Seville and Cadiz, involves Gemasolar plant (20 MW) -- the first tower thermosolar in the world to have molten salt storage -- and the Valle 1 and 2 parks, each with 50 MW of capacity. All the plants have thermal storage systems. Together, these plants are capable of generating enough power to meet the demand of 100,000 local homes.

Sener and Masdar have been advised by Banco Santander and Latham & Watkins while Q-Energy has had the advice of Lazard & Cia and Garrigues.