The flagship project is jointly owned by SolarReserve, ACS Cobra, and Santander.
Cobra Thermosolar Plants, ACS Cobra’s Nevada-based affiliate, is the general contractor for the project and is utilizing Nevada and regional subcontractors to perform the work.
SolarReserve CEO Kevin Smith said the project is on track to bring American innovation to fruition and is already creating jobs.
Construction of the facility began in September of 2011 and is expected to be operational by the end of 2013.
The Crescent Dunes project has secured a 25-year power purchase agreement with NV Energy and will provide clean power to about 75,000 homes when complete.
The project closed financing in September of 2011 utilizing private equity investment from SolarReserve, ACS Cobra and Santander along with support from the US Department of Energy’s loan guarantee program.
