Torresol Energy began to take shape in 2007, when SENER decided to promote its own thermosolar plants all over the world and invest in them in the long term. To address this important challenge it identified MASDAR as the ideal partner. Both companies shared the same vision on the development of thermosolar power.
Thus, in 2008 Torresol Energy was incorporated, 60%-owned by the SENER Grupo de Ingeniería and 40% by MASDAR, the alternative energies company of Abu Dhabi.
In 2008 work got under way on the building of the Gemasolar plant in the province of Seville (Spain). In spring 2009, work began on the construction of a further two plants, Valle 1 and Valle 2, equipped with cylindrical-parabolic collector technology (CPC) and located in the province of Cadiz (Spain).
For the portfolio of projects currently in progress, entailing an investment amounting to almost one billion euros, Torresol has closed long-term “Project Finance” funding lines, which has enabled it to address these projects thanks to the continuous support of international and Spanish financial organizations.