$300M to World’s Largest Solar Power Plant

Solana CSPParent company of TripAdvisor, Liberty Ventures is giving USD 300 million of financing to the world’s largest parabolic trough solar project, Solana.

The 290MW concentrating solar power (CSP) plant is now in its final testing phase, and once completed will be the first utility-scale solar plant to store energy to meet demand.

Solar with storage
Unlike other renewables, parabolic troughs can generate energy day and night using thermal energy storage. At full capacity, Solana can store energy for six hours. This storage allows clean energy to be generated and stored without intermittence.

Solana began construction in 2010 and the total investment in Solana so far is USD 2 billion. The plant aims to be operating by the end of this year.

Solar technology developer, Abengoa is the managing partner, taking care of the management, operation and maintenance of Solana.

70,000 homes
Upon completion Solana, which spans 1,920 acres in Gila Bend, Arizona, will produce enough energy for 70,000 homes and reduce carbon emissions by half a million tonnes, compared to a natural gas plant.

Solana will also reduce water consumption by 75%, compared to the amount of water used previously for agriculture.

Arizona Public Service (APS), the largest utility in Arizona has a PPA with Solana for all the electricity the plant produces.

2,000 jobs
More than 2,000 jobs have been created for the construction of Solana, with 85 permanent jobs and thousands of indirect jobs expected to be created, just through the supply chain with 165 companies across 29 states have been engaged with Solana.

Abengoa already operates 931MW of CSP, and has 710MW under construction.

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3 responses to “$300M to World’s Largest Solar Power Plant

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