Thursday, 24 July 2014
Last updated 9 hours ago
Feb 13 2009 | 10:47am ET
Power utility Southern California Edison and solar power plant specialist BrightSource Energy have agreed to a series of contracts for 1,300MW of clean solar thermal power, enough to supply almost 845,000 homes.
The deal involves the largest series of solar installations ever seen – seven projects in all, to be constructed in the desert outside Los Angeles. The first 100MW solar power plant, located in Ivanpah, California, could be operational by 2013 and is expected to produce 286,000MW-hours of renewable electricity per year.
“These contracts represent a significant addition to our renewable portfolio, which is already the nation’s largest,” said Stuart Hemphill, SCE vice president, Renewable and Alternative Power. “This innovative solar technology helps to further our position as the nation’s largest purchaser of solar energy, as well.”
The facilities will use solar thermal power technology, which concentrates the sun’s rays to create steam in a boiler and spin a turbine. SCE says BrightSource will build and place each of the plants into commercial operation as quickly as permitting and infrastructure allow.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…