SolarReserve was formed to solve two of the fundamental barriers of renewable energy: scalability and storage. Unlike hydroelectric, geothermal, biomass, and other renewable energy technologies that use limited renewable fuel sources, SolarReserve`s power plants draw their heat from the sun - earth`s ultimate source of clean energy. And unlike wind and photovoltaics, SolarReserve`s power plants can deliver power whenever it is needed, either 24 hours per day or only during `peak` demand. By overcoming these two key barriers, SolarReserve enables utility-scale, clean, renewable electricity generation.
SolarReserve is a leading global developer of utility-scale solar power projects, which include electricity generation by solar thermal energy and photovoltaic panels. In addition, SolarReserve has commercialized a proprietary advanced solar thermal technology with integrated energy storage that solves the intermittency issues experienced with other renewable energy sources. This proven US-developed technology generates renewable baseload and dispatchable power and can compete with traditional fossil-fired and nuclear electricity generation. The company currently has more than $1.8 billion of projects in construction and operation worldwide, with development and long-term power contracts for 482 megawatts (MW) of solar projects representing $2.8 billion of project capital.
The global demand for renewable energy generation is expected to grow by 45% by 2020 which would require over $1.1 trillion of additional investment 1, after global investments topped $270 billion in 2014. As renewable energy penetration grows, the need for utility-scale renewable generation with storage technology is increasingly important to mitigate intermittency problems, deliver power into peak demand periods, and support transmission system reliability.
Since the company's formation in early 2008, SolarReserve's experienced team of power project professionals has assembled an extensive global development pipeline of 6.6 gigawatts (GW) across the world's most attractive, high growth renewable energy markets. The robust portfolio is strategically positioned to secure power offtake contracts, and includes advanced solar thermal technology (Concentrating Solar Power or “CSP”), photovoltaic (PV) technology, and hybrid (combined CSP and PV). SolarReserve’s hybrid CSP/PV solutions eliminate the intermittency issues associated with PV-only projects while providing cost efficient and reliable electricity generation.
SolarReserve is headquartered in Santa Monica, California, and maintains a global presence with seven international offices strategically located in Africa, the Americas, the Asia-Pacific region, the Middle East, and Europe to support its widespread project development activities across more than 20 countries. The experienced management team has a proven track record of success in the energy infrastructure sector with over 27 GW and $48 billion of transaction experience in 25 countries. The company deploys the full spectrum of development, engineering, finance, project management, operation and maintenance, and product development expertise.
SolarReserve is passionate about protecting our planet and providing a healthy and secure future for generations to come.
With construction and development activities worldwide, SolarReserve is providing renewable energy solutions that not only generate clean energy, but also cultivate economic growth for communities around the world. SolarReserve’s goal is to have its global projects achieve high levels of local job creation and content through local supply chains. The company’s Crescent Dunes project in the U.S. is a prime example, having created over 4,300 direct, indirect and induced jobs over the life of the project, with peak on-site employment of over 1,000 construction jobs.
From a corporate perspective, SolarReserve is committed to supporting the communities that are or could be home to its solar power projects. The SolarReserve team has positively impacted many communities around the world through career development, internships, corporate sponsorships, corporate donations and community outreach programs. Serving our communities is a core component of the SolarReserve corporate culture.