SANTA MONICA, Calif.,
July 25, 2014 /PRNewswire/
-- SolarReserve, a leading global developer of utility-scale
solar power projects and advanced thermal energy storage
technology, today announced that it signed a supply contract for
its 20 megawatt (MW) Acajutla photovoltaic (PV) solar power project
in El Salvador as part of a highly
competitive tender solicitation by the local electric distribution
companies. The tender, the country's first for utility-scale solar
power, was administered by Distribuidora de Electricidad
del Sur ("DELSUR"), one of the seven
electricity distribution companies in El
Salvador, and was overseen by El
Salvador's Electricity and Telecommunications regulatory
body Superintendencia General de Electricidad y Telecomunicaciones
("SIGET").
The Acajutla project is the first of several in SolarReserve's
pipeline of 800 MW of solar power projects in development in
Latin America, which includes
advanced solar thermal technology (CSP), photovoltaic (PV)
technology, and hybrid (combined CSP and PV) solutions that can
provide competitive 24-hour solar energy.
"Many Latin American countries, including El Salvador, have experience with renewable
energy such as geothermal or hydroelectric. As demand for
electricity continues to grow, Latin
America represents a great opportunity for solar power
development," said Kevin Smith,
SolarReserve's CEO. "With the region's excellent solar resource and
escalating and uncertain prices of fossil fuels, solar power makes
more than just environmental sense – it makes economic sense. We
look forward to continuing our work on Acajutla and on our other
photovoltaic and solar thermal projects in development in
Latin America."
About SolarReserve, LLC
Headquartered in Santa Monica,
California, SolarReserve is a leading developer of
utility-scale solar power projects and advanced thermal energy
storage technology with more than $1.8
billion of projects in construction and operation globally.
SolarReserve has commercialized the world's leading solar thermal
energy storage technology utilizing molten salt in a power tower
configuration. This game changing technology enables the company's
solar thermal (CSP) power plants to operate on-demand day and
night, delivering a stable and predictable electricity supply
similar to that of conventional fossil fuel-burning power
facilities, but without the associated harmful emissions and
without any fuel costs.
SolarReserve's experienced team of power project professionals
has assembled an extensive 5,000 MW worldwide development portfolio
of large-scale solar projects. The company's balanced portfolio of
power projects includes advanced solar thermal technology (CSP),
photovoltaic (PV) technology, and hybrid (combined CSP and PV)
solutions.
SolarReserve's 110 MW Crescent Dunes Solar Energy Plant located
in Nevada is the first
utility-scale facility in the world to feature advanced molten salt
power tower energy storage capabilities. The project,
currently in the commissioning phase, will generate more than
500,000 megawatt-hours of electricity per year and includes 10
hours of full-load energy storage, powering 75,000 Nevada homes with clean reliable electricity –
day and night. Nevada's
largest electric utility, NV Energy, will purchase 100 percent of
the electricity generated under a 25-year power purchase
agreement.
The SolarReserve team is adept at developing large scale
projects internationally including three PV projects, totaling 246
MW of generation capacity, in construction and operation in South
Africa. The Lesedi and Letsatsi Projects, totaling 150 MW-DC
of installed capacity, came on-line in May
2014 and are capable of powering more than 130,000 South
African homes with clean energy. The projects were selected as the
"African Renewable Energy Deal of the Year" by Project Finance
Magazine in 2012. The 96 MW Jasper power project, slated for
completion in 2014, is one of the largest solar installations on
the continent.
In addition to its headquarters in the US, SolarReserve has
offices in Spain, Chile, South
Africa, Turkey,
Australia, United Arab Emirates and the UK, with
activities underway in the Middle
East, Africa, Australia, China, and Latin
America.
Photo - http://photos.prnewswire.com/prnh/20140723/129946
Photo - http://photos.prnewswire.com/prnh/20140723/130388
Logo -
http://photos.prnewswire.com/prnh/20130927/LA87962LOGO
Contact:
Mary Grikas
+1.310.315.2274
mary.grikas@solarreserve.com
SOURCE SolarReserve