US: SolarReserve closes financing on 110 MW solar project


Located near Tonopah, Nevada, on federal land operated by the Bureau of Land Management, construction on the solar thermal project started earlier this month. It is scheduled to be operational by late 2013. SolarReserve subsidiary, Tonopah Solar Energy, LLC will construct, own, and operate it.

SolarReserve CEO, Kevin Smith says that over 600 direct jobs are expected to be created during the solar plant’s 30 month construction period. He adds that 4,300 direct, indirect and induced employment opportunities will be available. Ninety percent of the construction jobs will reportedly be filled by Nevada residents.

Cobra Thermosolar Plants Inc. will act as the general contractor for the project. The company is an affiliate of ACS Cobra, which is acting as an investor, alongside SolarReserve and Santander. "The project also closed on $737 million in project debt along with a loan guarantee from the U.S. Department of Energy," said a statement released.

US-developed technology

The Crescent Dunes project will utilize "innovative" U.S. developed technology. "Through the use of energy storage, the highly efficient solar project will provide reliable, zero-emission electricity on demand – day or night," continued the statement.

The energy storage technology was said to have been developed by United Technologies Corporation subsidiary, Pratt & Whitney Rocketdyne.

The statement goes on to say that the project will generate over 500,000 MW hours of energy annually, "almost twice that of other solar technologies per MW of capacity". Nevada-based electric utility, NV Energy, will reportedly purchase all of the generated energy under a 25-year power sales contract.

"SolarReserve’s molten salt power tower technology will change the face of solar thermal power as the world knows it, and we are excited to help implement this important technology in Nevada," stated Jose Alfonso Nebrera Garcia, director general of ACS Cobra.

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact:


Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.