News Article
Solar Trust Dumps CSP For Silicon PV
Largest US project also rejects loan protection for private investors
Solar Trust of America, an integrated solar energy company, today announced it will convert the first 500 MW phase of the Blythe Solar Power Project from concentrated solar power (CSP) to photovoltaic (PV) technology. When complete, the Blythe Project will have a total nominal capacity of 1,000 MW. The company identified improved PV market conditions as the main driver of the decision.
"This move underscores Solar Trust's focus on maximizing the potential of our sites by deploying the right technology at the right time," said Uwe T. Schmidt, Chairman and CEO of Solar Trust of America. "We develop solar projects at the size and scope of the largest conventional power plants, and in doing so validate solar as a mainstream energy source. Our expansive solar supply chain leverages economies of scale and improves the competitiveness of our projects and other utility scale projects throughout the Southwest."
Solar Trust believes developing the site as a commercial PV project is a more attractive strategy for the company in the current market. "In light of our change in technology, we now plan to finance the facility in the commercial bank market," continued Schmidt.
Due to the change to PV technology, Solar Trust of America will be able to rollout construction of the Blythe facility in phases, rather than 250MW at a time as was planned with CSP. Solar Trust of America has one of the largest project pipelines in the solar industry with 2,250 MW of sites in advanced stages of development in the U.S. The company also has signed agreements for 1,500 MW of transmission access.
Schmidt emphasized the continued importance of solar thermal technology in Solar Trust's product portfolio moving forward: "As the PV base in North America grows, the grid stabilizing characteristics of CSP will be recognized and rewarded."