SolarReserve Moves Forward on Solar Thermal Project

Thursday, 29 July 2010 23:00

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The Public Utilities Commission of Nevada (PUCN)has approved NV Energy to move ahead on SolarReserve’s Crescent Dunes Solar Energy Project. Last December SolarReserve announced its wholly owned subsidiary, Tonopah Solar Energy LLC, and NV Energy had signed a 25-year power purchase agreement for the sale of electricity from the proposed 100 megawatt solar energy project.

Kevin Smith, SolarReserve’s CEO, says, “We are extremely pleased that NV Energy received approval from the Public Utilities Commission of Nevada to move forward on this important energy project,” “Solar energy, and particularly solar energy with thermal storage, can help meet Nevada’s renewable energy objectives while at the same time stimulate the economy by creating solid jobs in the state.”

According to SolarReserve, “the Crescent Dunes Solar Energy Project has the ability to store 10 hours of solar energy and consequently has the capacity to generate electricity during cloud cover or after the sun has gone down as well as the ability to shift power production to meet peak demand periods. This energy storage capability provides a stable, reliable electricity product similar to that of conventional fuel-burning power facilities.”

When completed, the Crescent Dunes solar project will supply approximately 480,000 megawatt hours annually of renewable electricity. In its approval, the PUCN pointed to the project’s ability to provide consistent power day or night, its ability to provide stable energy without risk of fluctuating fuel pricing and the jobs it will bring to the state as key project benefits.

SolarReserve LLC, headquartered in Santa Monica, California, is a solar energy technology and project development company and holds the exclusive worldwide license to the molten salt, solar power tower technology developed by Pratt & Whitney Rocketdyne, a division of United Technologies Corporation.