The company, based in A Coruña, directed by Manuel García, has dusted off an old power generation plant project with forest waste to make it the most important in Spain. The works have already begun in the municipality of Curtis Coruñés, where 2020 will begin to operate a 49,9 megawatt power plant, more than enough to meet the energy needs of the entire hospitality industry in Galicia, according to the company.
In 2016, when the central government decided to call new auctions to encourage again the installation of more clean technology plants. The Galician company was made in one of those bids with 50 megawatts of biomass, the same that is now being developed.
Sources of the company explain that the auction guarantees the collection of almost 100 euros per megawatt hour produced during 25 years, enough to guarantee the profitability of the project. The planned investment adds 113,7 million. The Galician energy company has resorted to a loan of 50 million from the European Investment Bank; and another from 22 of the ICO. It also receives guarantees to finance other 23 million by organizations such as the Finnish Government itself, because the boiler of the plant will bear the seal of that Nordic country. Sources of Greenalia also detail that other 9 million will obtain them with the emission of green bonds for that amount. The company is listed on the Alternative Stock Market (MAB).
The plant will consume half a million tons of native forest biomass, that is, 25% of all that is generated.