SolarReserve Announces Project Financing of $737m for Crescent Dunes Solar Energy Project in Nevada, US - Deal Analysis from GlobalData
Solar Reserve, a company engaged in the development of large scale solar thermal projects, has recieved a $737m conditional loan guarantee from US Department of Energy for the construction and development of Crescent Dunes Solar Thermal Power Project near Tonapah, Nevada. The plant is expected to evade nearly 290,000 tons of carbon pollution annually. The project is also expected to produce approximately 5,00,000 MWh annually, enough to power over 43,000 homes. The Crescent Dunes Solar Energy Project, sponsored by SolarReserve, LLC, will be the first of its kind in the United States and the tallest molten salt tower in the world. Cobra Thermosolar Plants Inc. will be the general contractor for the project. The energy storage technology has been developed by United Technologies Corporation subsidiary, Pratt & Whitney Rocketdyne. The solar thermal power plant is expected to start operations in late 2013.
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The scope of the article talks about key features of the deal and significance of the project financing for Solar Thermal Technology
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The deal analysis provides details on project financing and key drivers and significane of the project, which is one of the largest solar thermal power project in the world.