SolarReserve buys Aerojet Rocketdyne's CSP technologies

Oct 27, 2014 - US firm SolarReserve LLC today said it is acquiring the concentrating solar power (CSP) operations of Aerojet Rocketdyne, the rocket and missile propulsion maker.

The deal involves intellectual property (IP) rights and patents protecting the seller’s molten salt technology, heliostat designs and collector field control systems. The chief engineer for Aerojet Rocketdyne’s CSP business, George O'Connor, will also join the SolarReserve team together with “key personnel” with critical knowledge of the technology.

Financial details on the purchase were not disclosed.

Aerojet Rocketdyne’s molten salt technology allows CSP plants to operate 24/7, which is one of their key advantages over other solar energy technologies. It can be used in other electricity storage applications as well as.

“With this acquisition and continued advancement on the technology, SolarReserve is well positioned to capture a significant portion of the projected USD 75 billion [EUR 59bn] CSP market expected to develop through 2025,” commented Kevin Smith, its chief executive.

Last week we reported that SolarReserve is planning to install a hybrid concentrated solar power (CSP) and photovoltaic (PV) plant that will generate nearly 260 MW in Chile's Atacama region. The project is worth some USD 2 billion.

(USD 1 = EUR 0.786)

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