The project for regenerating the site is known as Alcudia TechMar.

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The Council of Mallorca is studying the purchase of the old power station in Alcanada, Alcudia and therefore exercising a right of first refusal.

The power station, which is a listed property, was sold by Endesa to a foreign investment fund in early May. However, neither the Council of Mallorca nor Alcudia town hall are supportive of the Gingko fund's plans for regeneration. Gingko would apparently redevelop the site and in accordance with the Alcudia TechMar project that has been envisaged for it, but they would do this in exchange for the building of apartments by the Torre Mar. This watchtower, which dates from 1599, is close to the power station. The town hall has made clear that apartments are not part of its plans.

Magdalena Frau, Endesa's head of communications and public relations in the Balearics, explained at the time of the transfer to Gingko that the Council of Mallorca had been informed so that it could exercise the right of first refusal, as is stipulated under law. The Council's heritage department ruled out a purchase. But having consulted legal services, it is now giving the acquisition close consideration "for reasons of public interest".

The sum paid by Gingko hasn't been disclosed. The amount, it is understood, was "symbolic", bearing in mind that the cost to decontaminate the site has been put at 20 million euros.