Greenalia, a Spanish renewable energy producer company, has been awarded as IJGlobal Best European Biomass Deal of the Year for its Curtis-Teixeiro biomass plant located in A Coruña (Galicia, Spain).

This prize recognizes Greenalia’s Galician project as one of the best international operations in infrastructure and energy. The awards are organized annually by the international publication IJGlobal, specialized in investment and project financing.

Greenalia has stand out in this edition with one of the most ambitious projects in Europe, the biomass plant of Curtis-Teixeiro, currently the most important under construction in Europe and whose financing obtained, by the evaluation agency Standard&Poor’s, the highest rating (E1) as a green loan. In addition, it was the first biomass project to be financed, since its inception, through the modality of Project Finance and enabled Greenalia to become the first SME to issue a green bond in Europe.

The biomass electrical installation will be worth an investment of 135 million euros and will have a capacity of 50 megawatts (MW) in full activity, equivalent energy to supply a population of more than 250,000 inhabitants. Until it come into operation in March 2020, the project will generate more than 1,000 employments between direct and indirect jobs.

The plant is currently under construction and civil works are expected to be completed in September of this year, to begin operating six months later.

Greenalia has estimated a recurring revenues from the sale of electricity of more than 910 million euros over 25 years to which 295 million euros would have to be added for the supply of forest biomass to Greenalia Forest, group’s subsidiary.

The awards ceremony was held on Thursday 21 March at the Natural History Museum in London, in a gala attended by numerous global representatives of the energy and infrastructure sector.

During the ceremony, Manuel García, CEO of the company, stated that “Greenalia is proud to have been selected as the best European Biomass Project. Our plant in Curtis-Teixeiro is one of the largest in Spain and the first in technology. This is part of a project that goes beyond electricity generation, it is a reality that will generate environmental, economic and social benefits. It will promote the generation of employment and economic growth where it is located and will contribute to the production of clean energy and to the prevention of forest fires.