Project recognized for advancing solar thermal technology, securing project financing
(OAKLAND, Calif.) February 21, 2012 - NRG Energy, Google and
BrightSource Energy announced that the Ivanpah SolarElectric Generating System (Ivanpah SEGS) was
awarded CSP Project of the Year by Solar Power Generation
USA. Ivanpah SEGS in California's Mojave Desert is currently
the world's largest concentrating solar power (CSP) plant
under construction. When completed, it will double the amount
of solar thermal electricity produced in the US.
"[The] Ivanpah Project has helped advance technology in the
industry, shown us new ways to secure financing, and is
setting records and inspiring the industry," said Laura
Dinnewell, Director of Solar Power Generation USA, the
industry's leading utility-scale solar power conference. "The
project has secured not only a US Department of Energy loan
guarantee, but also $168 million from Google and $300 million
for NRG Energy as equity investors. Ivanpah offers a great
example of how a large-scale project, if well structured, can
still attract the necessary investment to succeed."
"Ivanpah serves as an industry model in achieving reliable,
cost-effective and environmentally- responsible clean energy
at utility-scale. On behalf of the Ivanpah project, including
our partners NRG Energy, Google and Bechtel, we are honored
to receive this award from Solar Power Generation USA," said
Mike Bobinecz, Ivanpah Project Director and Vice President,
BrightSource Construction Management, BrightSource Energy.
"We look forward to completing this important solar power
facility and bringing California one giant step closer toward
its goal of producing 33% of its electricity from renewable
sources by 2020."
"NRG's investment in Ivanpah represents our commitment to not
only support promising clean energy technology that will lead
America to a brighter economic future, but also to work with
the best partners and technology providers in the industry,"
said Randy Hickok, Vice President of Asset Management, NRG
Solar.
Ivanpah commenced construction in October 2010 and is
expected to begin delivering power to its utility customers
PG&E and Southern California Edison in 2013. Upon completion,
the project will employ over 1,600 construction workers and
on-site project support staff.
Technology Provided by BrightSource Energy
Ivanpah will employ BrightSource's power tower solar thermal technology, which generates power the same way as traditional power plants - by creating high temperature steam to turn a turbine. However, instead of using fossil fuels or nuclear power to create the steam, BrightSource uses the sun's energy. BrightSource's system uses a state-of-the-art field of software-controlled mirrors, called heliostats, to reflect the sun's energy to a boiler atop a tower to produce the high temperature and high-pressure steam. The steam can then be integrated with conventional power plant components to produce predictable, reliable and cost-competitive clean energy. BrightSource's technology is designed to produce the highest temperature and pressure solar steam in the world.
About the Ivanpah Project
The Ivanpah solar power facility is located on approximately
3,500 acres of federal land in California's Mojave desert,
managed by the U.S. Department of the Interior's Bureau of
Land Management (BLM). The 377 megawatt (net output) facility
consists of three separate solar thermal power plant that,
when constructed, will produce enough clean energy to power
140,000 homes.
The power generated from these solar plants will be sold
under separate contracts with Pacific Gas and Electric (PG&E)
and Southern California Edison (SCE). PG&E will purchase
approximately two-thirds of the power generated at Ivanpah
and SCE will purchase approximately one-third. In all,
BrightSource has contracted with PG&E and SCE to deliver
approximately 2,400 megawatts of electric power.
Creating Jobs
BrightSource and Bechtel, the engineering and construction
contractor for the Ivanpah project, estimate that
construction of the Ivanpah project will require
approximately over 1,400 union jobs at the peak of
construction. In December 2009, Bechtel signed a project
labor agreement with
the State Building and Construction Trades Council of
California (SBCTC) and the Building & Construction Trades
Council of San Bernardino and Riverside counties to ensure
that California's local workforce benefits from the project.
The project will also provide $400 million in local and state
tax revenues, and produce $650 million in wages, over its
first 30-year life.
An Environmentally Responsible Project
The Ivanpah project will reduce carbon dioxide (CO2)
emissions by more than 400,000 tons annually, which is the
equivalent of taking more than 70,000 cars off the road.
BrightSource's system is also designed to minimize impacts on
the natural environment. In addition to being one of the most
land-efficient renewable energy technologies, BrightSource's
low impact heliostat layout is flexible, allowing the solar
field to be built around the natural contours of the land and
avoid areas of sensitive vegetation. And in order to conserve
scarce water resources, the technology employs an air-cooling
system to convert the steam back into water in a closed-loop
cycle. By using air-cooling, BrightSource's technology uses
more than 90 percent less water than older technology
parabolic trough plants with wet cooling.
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BrightSource Energy, Inc. is a leader in the design and development of concentrating solar thermal technology used to produce high-value electricity and steam for power, petroleum and process markets. To learn more about BrightSource Energy and concentrating solar thermal energy, visit www.brightsourceenergy.com.
About NRGNRG is at the forefront of changing how people think about and use energy. A Fortune 500 company, NRG is a pioneer in developing cleaner and smarter energy choices for our customers: whether as one of the largest solar power developers in the country, or by building the first privately funded electric vehicle charging infrastructure or by giving customers the latest
smart energy solutions to better manage their energy use. Our diverse power generating facilities can support more than 20 million homes and our retail electricity providers - Reliant, Green Mountain Energy Company and Energy Plus - serve more than two million customers. More information is available at www.nrgenergy.com.
About Google Inc.Google (NASDAQ: GOOG) is a global technology leader focused on improving the ways people connect with information. Google's innovations in web search and advertising have made its website a top internet property and its brand one of the most recognized in the world. For more information, visit www.google.com/about.html.
For BrightSource information contact: Kristin Hunter KHunter@BrightSourceEnergy.com
For NRG information contact: Lori Neuman Lori.neuman@nrgenergy.com
For Google information contact: Parag Chokshi PChokshi@google.com