Ibereolica this week declared voluntary bankruptcy proceedings for seven out of its 11 solar thermal power subsidiaries, according to announcements in the Official Gazette.
The process concerns Ibereolica Solar, Ibereolica Solar Badajoz 2, Ibereolica Solar Medellin, Ibereolica Solar Santa Amalia, Ibereolica Solar Puebla 1, Ibereolica Solar Puebla 2 and Planta Termosolar Valdetorres. Their outstanding debts should be known within a month. Rousaud Costas Duran SLP serves as administrator.
Ibereolica lists on its website six concentrated solar power (CSP) projects in Spain and Chile with a combined capacity of nearly 1 GW, including two 50-MW plant in Seville and Badajoz, operational since 2012.
The group had committed to invest some EUR 1.48 billion (USD 1.57bn) in new renewable energy projects by 2016.