SolarReserve receives environmental approvals for 450-MW solar thermal project with 5.8-GWhs of storage

Written By: Stratton Report
March 6, 2017

On March 6, SolarReserve, a provider of solar thermal technology with energy storage, announced it had received environmental approval from the Chilean government to build one of the world’s largest solar projects with energy storage.

SolarReserve stressed that the Tamarugal Solar Project, comprised of three 150-MW solar thermal towers, each with 13 hours of full load energy storage, will use its proprietary solar thermal energy storage technology, providing 5.8-GWhs of total energy storage capacity,

The firm claimed that the facility will deliver 450-MWs of continuous output, operating at a capacity factor and availability percentage equal to that of a coal fired power plant.

Tom Georgis, SolarReserve’s Senior Vice President of Development remarked:

SolarReserve’s proven technology is able to provide non-intermittent electricity from solar energy 24-hours a day, without requiring any fossil fuel. The Tamarugal project will help stabilize and lower electricity costs for Chilean families and businesses, while ensuring energy security for the country. 

SolarReserve noted it will be bidding energy and associated capacity, from Tamarugal and other Chilean projects, into the upcoming international public auction for 24-hour energy supply held annually by Chile’s power distribution companies.

Kevin Smith, SolarReserve’s Chief Executive Officer noted “What’s happening in Chile is a preview of the future of solar around the world. Even more remarkable than 24-hour a day solar, SolarReserve set a new benchmark for baseload solar pricing by bidding 63 dollars per megawatt hour, without subsidies, in Chile’s most recent auction for energy supply. We’ve proven that solar can compete head-to-head with conventional energy on both functionality and cost.”