SolarReserve has signed a Memorandum of Understanding (MOU) with China’s state-owned firm Shenhua Group to build 1,000MW of solar thermal projects in China.
Under the terms of the MOU, Shenhua will contribute its expertise in developing, funding, constructing and operating power plants, while SolarReserve will provide critical technology and technical support services to build the solar thermal (CSP) projects
The advanced solar thermal projects will also ensure the reliability and security of the new ultra-high voltage transmission lines while providing clean power to load centers in the east.
US Secretary of Commerce Penny Pritzker said: "This deal will support American exports and American jobs while simultaneously helping China meet the emission reduction goals it set under the Paris Climate Agreement."
The utility scale projects will also facilitate the deployment of additional wind and PV generation.
Shenhua Group CEO Dr Ling Wen said: "As part of Shenhua’s strategic objective to become a world-class clean energy provider, we are very interested in developing utility-scale concentrating solar power plants, and we look forward to working with SolarReserve in bringing its world-class proprietary technology to China."
The projects are expected to contribute to the China’s effort to build 10,000MW of CSP projects over the next five years, besides meeting emission reduction goals.
SolarReserve CEO Kevin Smith said: "SolarReserve is excited about the opportunity to help China meet its emissions reduction goals by working with the world’s largest coal company as it expands into large scale solar thermal."
In February 2016, SolarReserve said it had developed Crescent Dunes solar energy project featuring integrated energy storage technology near Tonopah, Nevada, US. The technology enables the project to produce solar generated electricity 24 hours a day by storing it during the day.
Image: US Deputy Secretary of Energy Dr Elizabeth Sherwood-Randall and US Deputy Secretary of Commerce Bruce Andrews during MOU signing ceremony. Photo: courtesy of PRNewsFoto/SolarReserve.