BrightSource Energy inks Chinese MOUs on CSP projects

Aug 2, 2013 - US BrightSource Energy Inc said Thursday it had sealed memoranda of understanding (MOUs) on potential solar project cooperation with the China Power Investment Corp (CPI) and the China Renewable Energy Engineering Institute (CREEI).

The US solar project developer and CPI's unit Huanghe Hydropower Development Co plan to install a commercial-scale concentrated solar power (CSP) plant in China. As part of its agreement, BrightSource will deliver technology for the system, while Huanghe will be in charge of the development activities, construction and operation. The partners will search for new CSP technology developments in order to cut project costs, collaborate to benefit from Chinese policy initiatives and aim to work together in international markets.

Under the other MOU, BrightSoure will collaborate with the CREEI on issues related to the efficient utilisation of solar power.

The global CSP market is estimated to hit 30 GW by 2020 from a little over 2 GW in 2012, the US company noted. According to the International Energy Agency, solar power could represent 25% of the global electricity mix by 2050 and meet one third of the global energy demand after 2060.

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