The Valle 1 and Valle 2 solar power projects are part of investments totalling ...

One of this year’s first major solar power projects that aims to test an advanced technology for generating electricity after sundown has secured a $760 million loan.

Torresol Energy’s 100-megawatt concentrating solar power plant to be built in Andalucia, Spain in March will test new technologies, including one which would enable it to continue providing electricity over seven hours after the sun has set.

Named the Valle 1 and Valle 2 solar thermal plants, they will use molten salt to store heat for generating steam that drives turbines to generate electricity.

Torresol did not name the lender, but last year it was among the applicants for a 330 million euro ($466.49 million) loan from the European Investment Bank for the same project.

Torresol said the two solar projects, each producing 50 MW, will create 3,200 new jobs in its two years of construction. Total costs will reach $1 billion.

Valle 1 and Valle 2 will produce enough electricity for 80,000 homes, while discarding 90,000 tons of carbon dioxide emissions yearly.

Over the years, C.S.P. technologies have strived to operate longer while relying only on solar power. But C.S.P. technologies such as those that use parabolic troughs still produce about a fifth of their electricity from fossil fuels.

“A significant feature of these plants will be their ability to produce electricity at night and at times of poor sunlight, which is obviously an important consideration for consumers who require and demand uninterrupted electricity supplies,” Torresol chairman Enrique Sendagorta said.

Torresol is a joint venture between Masdar, which is planning to build a 100 percent renewable energy-powered city in the United Arab Emirates, and Sener, a Spanish engineering company which developed the molten salt to be used in the plant.

The Valle 1 and Valle 2 solar power projects are part of investments totalling $1.4 billion across three C.S.P. projects in one year, Torresol said.

The Gemasolar Central Tower Plant, a 17-MW project under construction in Seville, was financed by the European Investment Bank.

-   Eric Dorente