Sunstroom Energy Announces New Solar Project in Spain

Sunstroom Energy Investments, based out of the UK, announced today plans to develop solar energy infrastructure in Spain. The 50 MW solar electricity facility is scheduled to be build in Spain’s Extremadura province and will cost an estimated €300 million.

The company plans to seek out funding from current investors and additional new sources, but as of now has not yet raised any capital. Sunstroom has already purchased the land in Extremadura, and hope to have raised the appropriate amount of funding by November or December of this year. The new power plant will be called Thermostroom 1 and will focus solely on solar technology  using parabolic mirrors to harness energy from the sun’s rays.

Spain was the leader in solar electricity on the global market for 2008, and looks to have a promising future in the solar power sector. Sunstroom was founded in 2006 and has since established three solar power facilities in Spain in the provinces of Navarra, La Rioja and Castilla-La Mancha.

Sunstroom has already arranged deals for technology, engineers, and utilities based in Spain and the United States for the new project in Extremadura. Additionally the company has secured all necessary local permits in order to begin construction on site. 

Sunstroom has various other renewable energy projects in the works at different locations in sectors such as solar photovoltaic, solar thermal, wind and hydroelectric power, as well as biofuel. The company currently generates a total of 5.4 MW of energy in Spain and funds most of their projects through private funding.