Month: October 2010

US Approves Blythe Solar Power Project

The biggest solar project that plans to provide power to more than 3,00,000 homes in southern California was permitted by the US interior department. The US$6 Bn, 1,000MW project, a joint venture of Solar Millennium AGand Ferrostaal AG, will be located on federal lands near Blythe, in the southern tip of California. “The Blythe Solar […]

The biggest solar project that plans to provide power to more than 3,00,000 homes in southern California was permitted by the US interior department.

approval for blythe solar energy project

The US$6 Bn, 1,000MW project, a joint venture of Solar Millennium AGand Ferrostaal AG, will be located on federal lands near Blythe, in the southern tip of California.

“The Blythe Solar Power Project is a major milestone in our nation’s renewable energy economy and shows that the United States intends to compete and lead in the technologies of the future,” said US interior secretary Ken Salazar.

This the 6th solar power project approved by the department in the last few weeks, which together have the potential to generate 2,800 MW of electricity, enough to power 2 million homes.

The project will consist of four concentrated solar electric generation facilities that would equal to the generation capacity of a large natural gas or coal-fired power plant.

Rows of curved mirrors up to 192m long will collect heat energy from the sun. The project will have thousands of mirrors lined up on the desert floor.

The project will be built in four units of 250MW each. The first 250MW should be up and running in 2013 and the second one in 2014.

Project’s operators expect approval from the Energy Department by the end of the year for a loan guarantee to cover 75 to 80% of the estimated US$3 Bn cost for the first units of the project.

The solar project, once fully operational, is expected to reduce carbon dioxide emissions by almost 1 MMTPA, which is equivalent to removing 1,45,000 cars off the highway.

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More deals of renewable energy in pipeline

The rapidly growing Indian renewable energy sector is likely to witness increased business deal making activities in near future, according to global consultancy Deloitte. “The trend in deal making activities in the renewable energy sector will continue going forward. The increased interest is not only a necessity in order to acquire technologies, but has also […]

The rapidly growing Indian renewable energy sector is likely to witness renewable energy deals 2010increased business deal making activities in near future, according to global consultancy Deloitte.

“The trend in deal making activities in the renewable energy sector will continue going forward. The increased interest is not only a necessity in order to acquire technologies, but has also been on account of attractive valuations after the global financial meltdown,” Deloitte India’s senior director Kalpana Jain said.

Going by estimates, India had seen as many as 14 deals worth US$ 1.1 Bn in the green energy space for the year ended June 2010.

Jain said there is “renewed impetus” in the renewable energy sector, especially in the solar energy segment. “The solar sector is expected to see an increased participation and collaboration especially in the technology and manufacturing space,” she noted.

According to a report by Deloitte, the growing renewable energy industry would supplement the conventional sources of energy such as the oil & natural gas sector.

“At a time, when the country is seeing supply shortage current peak power supply deficit at about 12% the renewable energy sector will complement the conventional sources of energy like petroleum and coal,” Kalpana Jain said.

Even though the renewable energy sector is anticipated to see good investments in the next 12-18 months, the growth trajectory would largely depend on the extent of global economic recovery, the report said.

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