SolarReserve is a leading global developer of utility-scale solar power projects, which include electricity generation by solar thermal energy and photovoltaic panels. In addition, SolarReserve has commercialized a proprietary advanced solar thermal technology with integrated molten salt energy storage that solves the intermittency issues experienced with other renewable energy sources. This proven US-developed technology generates renewable baseload and dispatchable power and can compete with traditional fossil-fired and nuclear electricity generation. The company currently has more than $1.8 billion of projects in operation worldwide, with development and long-term power contracts for 775 megawatts (MW) of solar projects representing $3.4 billion of project capital.
The global demand for renewable energy generation is expected to grow by 45% by 2020 which would require over $1.1 trillion of additional investment 1, after global investments topped $270 billion in 2014. As renewable energy penetration grows, the need for utility-scale renewable generation with storage technology is increasingly important to mitigate intermittency problems, deliver power into peak demand periods, and support transmission system reliability.
Since the company's formation in early 2008, SolarReserve's experienced team of power project professionals has assembled an extensive global development pipeline of 8 gigawatts (GW) across the world's most attractive, high growth renewable energy markets. The robust portfolio is strategically positioned to secure power offtake contracts, and includes advanced solar thermal technology (Concentrating Solar Power or “CSP”), photovoltaic (PV) technology, and hybrid (combined CSP and PV). SolarReserve’s hybrid CSP/PV solutions eliminate the intermittency issues associated with PV-only projects while providing cost efficient and reliable electricity generation.
SolarReserve is headquartered in Santa Monica, California, and maintains a global presence with five international offices strategically located in Africa, the Americas, the Asia-Pacific region, the Middle East to support its widespread project development activities across more than 20 countries. The experienced management team has a proven track record of success in the energy infrastructure sector with over 27 GW and $48 billion of transaction experience in 25 countries. The company deploys the full spectrum of development, engineering, finance, project management, operation and maintenance, and product development expertise.