SolarReserve gets regulatory nod for PPA on 150 MW solar thermal project
(ADPnews) - Oct 7, 2010 - US SolarReserve LLC said today that the California Public Utilities Commission has cleared its 25-year power purchase agreement (PPA) with local utility Pacific Gas and Electric for energy from its 150 MW Californian solar thermal project.
The solar energy developer said the approval enabled it to continue the development of the solar thermal project, which is under construction in Riverside County, southern California. The company expects the plant to generate some 450,000 MWhp of electricity, enough to supply 68,000 households in peak periods.
SolarReserve said the project has the potential to store the solar energy for ten hours, using advanced molten salt system technology, licensed exclusively by US industrial group United Technologies Corporation (NYSE:UTX).
According to the company, the energy storage capacity enables the project to generate power in cloudy days or at night, and to shift power generation to supply periods of higher demand, and saves it the need of natural gas for cloudy periods or start-up operations.