The largest European photovoltaic solar energy project

The Alliance between Santander and BP Solar allows you to combine the capabilities of the first financial group of the Euro zone and of Latin America with one of the leading companies in the design and manufacture of solar modules, belonging to BP, which is the second company in the world in production of oil and natural gas. The presence of these two partners is what makes possible a project of solar energy in this dimension, allowing for the participation of private investors in its funding.

BP Solar will be responsible for the construction of facilities, through turnkey contracts that include the entire process, from the production of solar panels in their factories as the of Tres Cantos (Madrid), until the installation and maintenance of plants. Santander, for its part, will constitute and will finance proprietary companies from different production of photovoltaic solar power plants. The shareholders of each of these companies will be full of individual investors, which have already expressed you to Santander private banking interest in participating in projects that invest in renewable energy.

These plants will sell the energy they produce to the distribution companies of electricity closer to the prices set by the tariff set the Government in 2004 by Royal Decree 436/2004.

The project is part of the actions promoted by the private sector in the framework of the Kyoto Protocol to reduce the total number of Spain greenhouse gas emissions, assuming a replacement effect of non-renewable power by installed power from renewable sources in the category known as "emissions 0". Expected an average annual production of 35,000 MWh for the whole of the project, which will be reduced up to 37,500 tons of CO2 equivalent per year.