The project proposes algae cultivation in floating greenhouses to produce biofuel, targeting to alleviate Spain's energy deficit and reduce dependency on oil imports. It aims to generate 67,000 jobs, save €3.9 billion for Spain's treasury, and achieve 20% of the national diesel oil needs by cultivating botryococcus braunii algae. The project's innovative approach includes creating a new industry with sealed plastic bags facilitating ideal growth conditions for algae in reservoirs and open sea environments.