SolarReserve

Solar tower will power Las Vegas at night

SolarReserve has completed the central point of a solar project that uses molten salt storage to deliver power to the grid well after the sun has gone down.

The startup company today said it has completed the 540-foot tower of the Crescent Dunes Solar Energy Project near Tonopah, Nev., which is expected to start delivering 110 megawatts by the end of 2013. When it comes online, it's projected to have 10 hours of storage, the longest full-load storage capacity for a solar plant.

Adding storage turns solar into a continuous power source and allows project developers to earn more … Read more

U.S. finalizes loan aid for two solar plants

The U.S. Energy Department finalized loan guarantees for two major solar projects today, as the deadline loomed for the government's renewable-energy incentive program.

The government wrapped up deals that would back $737 million in financing for a solar thermal plant sponsored by privately held SolarReserve and $337 million in financing for a Sempra Energy photovoltaic solar project.

With funding for the government's loan program set to expire at the end of the week, investors have been watching to see what deals will be completed before time runs out.

The loan program has faced intense scrutiny after the high-profile collapse of Solyndra, a solar-panel maker that was the first company to receive funding under the program.

Republican lawmakers investigating the Solyndra loan guarantee have raised concerns that the Obama administration may rush to complete loans to meet the program's deadline.

SolarReserve Chief Executive Kevin Smith, however, said the government had conducted an extensive review of its application. … Read more

Solar plant with molten-salt storage gets green light

Solar Reserve said today it has the federal permitting approvals it needs to begin construction of a concentrated solar power plant with enough storage to operate after the sun goes down.

The Santa Monica, Calif.-based company said the U.S. Department of the Interior approved the "record of decision" for a 110-megawatt solar thermal power plant in Nye County, near Tonopah, Nev. With the authorization, Solar Reserve expects it can start construction by mid-2011.

This Crescent Dunes project will use a field of sun-tracking mirrors, called heliostats, to reflect light onto a tower that holds molten salt. … Read more

California says yes to molten solar

The California Energy Commission has approved a permit for SolarReserve to build a 150-megawatt solar plant that uses molten salt to store energy, the company announced Wednesday.

The Santa Monica, Calif.-based start-up says its Rice Solar Energy Project will be located 30 miles from Blythe, Calif., and when running at full capacity will supply enough energy to power the equivalent of 68,000 homes annually. The project also has a 25-year power purchase agreement with Pacific Gas & Electric (PG&E).

The molten salt system will enable the solar farm to store and release solar energy so that … Read more

Utility solar project adds molten salt for storage

Updated at 2:30 p.m. PST with additional information on PG&E deal.

SolarReserve said on Tuesday it has signed a deal to build a utility-scale solar plant in Nevada with a molten salt storage system that will let it supply power when the sun isn't shining.

The Santa Monica, Calif.-based company has a 25-year power purchase agreement with utility NV Energy to supply about 480,000 megawatt-hours of electricity a year, enough to power about 75,000 homes during peak times. The capacity of the concentrating solar system will be 100 megawatts and be located … Read more