International investment group has bought old Alcudia power plant. | Majorca Daily Bulletin reporter

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Endesa has sold the old Alcudia power plant to the international investment fund, Ginkgo, which specialises in the regeneration of industrial spaces for an undisclosed amount of money.

Seven years ago, the heritage department launched a proposal to protect the old factory and the Gesa workers' village and designate the power station as an asset in the cultural interest (BIC).

Alcudia City Council, the Government and the Council of Mallorca want to convert the plant into a European Centre for the decarbonisation of the sea; the Alcudia TechMar plan has been declared a strategic project by the Balearic Government.

“In the case of a complex immersed in a cataloguing process by the Council of Mallorca, and by virtue of Law 12/1998 on Patrimony in the Balearic Islands, this administration has been informed of the transfer, so that it can exercise the right of first refusal that the law provides,” said Endesa’s Head of Communications & Public Relations in the Balearics, Magdalena Frau.

Alcudia Mayor, Bàrbara Rebassa, referred to the right of first refusal in response to a question from Podemos councillor, José Manuel Aranda, during the most recent council meeting

"The Council does not have first refusal because the file has only just been opened, it is not a BIC yet,” insists the heritage department. “This initiation does not affect the sale and whoever wants to buy can do so.”

“In its 2030 Investment Strategy, the Balearic Government defines the Blue Economy for the Mediterranean as a strategic line, being Alcúdia Tech Mar, a reconversion project of the old Alcúdia thermal power plant for the development of a new policy of economic, environmental and cultural attraction, based on the pioneering and comprehensive development of the decarbonisation of the sea,” says Frau.

“Ginkgo has a proven track record and international experience in the recovery of industrial spaces,” notes Endesa. “It has decided to take over from Endesa in order to regenerate the space and adapt it to the needs that a project like Alcudia Tech Mar requires.”

Established in 2010 in partnership with Edmond de Rothschild, Ginkgo Advisor has become a leading investment franchise dedicated to the remediation and redevelopment of brownfield sites in Europe