CSP Image Credit: SolarReserve/PR NewsWire

Published on August 2nd, 2014 | by Adam Johnston

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SolarReserve Wins El Salvador’s 1st Utility-Scale Solar Contract

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August 2nd, 2014 by
 

SolarReserve is bringing 20 MW of utility-scale solar power to El Salvador’s Acajutla plant, while advancing its share of the Latin American solar market.

The Santa Monica, California–based company won El Salvador’s first ever utility-scale solar tender. The country’s energy and telecommunications regulator oversaw the bidding process.

SolarReserve sees Latin America as a good growth market, according to CEO Kevin Smith.

“Many Latin American countries, including El Salvador, have experience with renewable energy such as geothermal or hydroelectric. As demand for electricity continues to grow, Latin America represents a great opportunity for solar power development,” Smith said.

“With the region’s excellent solar resource and escalating and uncertain prices of fossil fuels, solar power makes more than just environmental sense – it makes economic sense. We look forward to continuing our work on Acajutla and on our other photovoltaic and solar thermal projects in development in Latin America.”

Currently, SolarReserve has 800 MW of Latin American projects scheduled, including the Acajutla plant. The company is using  photovoltaic (PV), concentrated solar power (CSP), and hybrids (mixed PV and CSP systems) in creating potential around-the-clock clean energy solutions.

With analysts predicting 700 MW of new solar capacity in the region this year, and falling solar prices, SolarReserve, is well primed to boost its own portfolio of $1.8 billion, while adding to Latin America’s surging solar potential.

Source: PR Newswire

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About the Author

Is currently studying at the School of the Environment Professional Development program in Renewable Energy from the University of Toronto. Adam also graduated from University of Winnipeg with a three-year B.A. combined major in Economics and Rhetoric, Writing & Communications. Adam also writes for CleanTechnica and has also written for PlanetSave. He also owns his own part time tax preparation business. His eventual goal is to be a cleantech policy analyst, and is currently sharpening his skills as a renewable energy writer. You can follow him on Twitter @adamjohnstonwpg or at www.adammjohnston.wordpress.com.



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