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April 20, 2008 – Vol.13 No.5 Stirling Energy Systems (SES) Announces $100 Million Investment by NTR. With the investment NTR will take a controlling interest in the company and provide SES with the financial strength and commercial expertise to build two of the world’s largest solar generating projects. Combined, the two projects in the Imperial Valley and Mojave Desert in Southern California, will initially produce 800 megawatts (MW) of power and up to 1,750 MW with contract extensions when the plants are fully constructed. SES has long term Power Purchase Agreements with two of California’s leading utilities, San Diego Gas & Electric (SDG&E) and Southern California Edison (SCE) to purchase the solar generated electricity from the power plants – Solar One and Solar Two. SES is the innovator of the highly efficient concentrating solar energy technology called SunCatcher. SunCatcher combines a mirrored concentrator dish with a high-efficiency Stirling engine specially designed to convert reflected sunlight to electricity. The dish concentrator tracks, collects and focuses the sun’s energy and the Stirling engine converts the thermal energy to grid quality electricity. The technology has been in testing for several years at the US Department of Energy’s Sandia National Laboratories in Albuquerque, New Mexico.
“SES is now poised to move to the next stage in its commercialization plan,” said SES President and Chief Executive Bruce Osborn. “The investment by NTR will give SES access to the development, commercial and financial expertise and resources required to commercialize the SunCatcher and build out our solar projects. NTR’s experience and proven commercial track record in the renewables sector make it an ideal partner for SES.” NTR plc is a leading international developer and operator in renewable energy and sustainable waste management. SES, of Phoenix, Arizona. was formed in 1996 to develop and commercialize advanced solar technology. project and technical development offices in Tustin, California, and engineering and test site operations at Sandia National Laboratories in Albuquerque, New Mexico. (4/17/08)
Links: Stirling Energy Systems
Related: All About Solar – August 7, 2005 Points of Interest – March 7, 2004
Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: No
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