Greenalia counts since last Wednesday, February 14, with the approval of the Xunta de Galicia for the construction of the biomass plant in Curtis-Teixeiro. The General Administration of Energy signed the Prior Administrative Authorization, the Execution Project of the biomass plant and the evacuation line. The administrative authorization was processed in the Doing Business office, which made it possible to expedite in less than on year. This authorization, for th einstallation of 50 MW of power for the generation of renewable energy, will be the “largest” in Galicia. The plant will be built on it sownplot of more than 100,000 m2 in the town of Curtis-Teixeiro.
The launch of thi splant, scheduled for March 28, 2020, will involve an investment of 130 million euros and the creation of more than 500 jobs during its construction and operation. Since last September, when the engineering work began, the investment was 5 million euros, including main equipment such as the boiler, the connection point or the land.
Like wise, this project will entail revenues of 960 million euros over the 25 year sof the plant’s useful life, as well as an additional 280 million for the supply of fuel in the forestry business line.
Greenalia continues to work on closing the financing, which will be structured through a Project Finance vehicle, and in which th eparticipation of the EIB (European Investment Bank) and part of commercial banking isexpected. However, the group’s financing plan contemplates other alternatives with funds and financialentities.