BRIGHTSOURCE EXEC TALKS SOLAR TOWER TECH & BIZ

Future CSP growth in the United States - CSP Today interview with Joe Desmond of BrightSource Energy

May 9, 2013 (CSP Today)

[Joe Desmond, BrightSource Energy:] “…[In 2013-14, U.S. CSP capacity will increase by 120%, with a total of 1318MW coming online, including BrightSource Energy’s 392MW (gross) Ivanpah project]…Demonstrating CSP technologies at scale is very important…[T]here are real benefits that CSP technologies provide to grid operators and…[CSP] adds diversity to utilities’ energy portfolios…Ivanpah will demonstrate how large scale CSP systems operate…[prove] the technology…de-risk some of the technology perceptions…[and] demonstrate that you can have development whilst having a positive [environmental] impact…”

[Joe Desmond, BrightSource Energy:] “…[L]arge infrastructure investments…[have to balance] new technology that drives down cost and increases performance…against the requirements of lenders who want to ensure that they have an acceptable risk profile…[Ivanpah will demonstrate] the performance and bankability of our technology to those interested in financing CSP power tower projects…DOE has proposed allocating $90 million to CSP within the SunShot Initiative Solar Program for fiscal year 2014, which is double last year’s allocation of $45 million…[indicating a significant] commitment…They are also focusing on grid integration issues…[and] you will see [streamlined permitting and] a progression and advancements within the major components…”

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[Joe Desmond, BrightSource Energy:] “…[T]he Palen site…was originally developed and permitted as a concentrating solar parabolic trough project…[Following Solar Millennium's bankruptcy], BrightSource is converting the project to the company’s proprietary solar thermal power tower technology. We are working with the California Energy Commission and Bureau of Land Management…The partnership with Abengoa is a great opportunity to bring together two companies with vast experience in CSP. Abengoa will carry out the engineering, procurement and construction, and BrightSource Energy will provide the solar field technology…”

[Joe Desmond, BrightSource Energy:] “…The ability of CSP to provide grid reliability services, reactive power, frequency control and inertia response are essential to having a grid operating in a reliable and cost effective way. Thermal storage and the flexibility it offers will help utilities and grid operators address integration challenges…by delivering a firmer, reliable and more controllable renewable power source…[thereby] promoting broader integration of other renewable technologies including photovoltaics and wind…[T]hermal storage helps to drive down costs on a levelized cost of energy basis and increases a plant’s capacity factor. Furthermore, storage can provide increased capacity value…”

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