Spanish solar-thermal power developer Abengoa has agreed to acquire BrightSource Energy’s stake in the Palen Solar Energy Generating Station (PSEGS) project in California, US.
Post-acquisition Abengoa will become the sole developer for the PSEGS project. The proposed 500MW project, however, might be scaled-down by the firm, reports Bloomberg.
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Financial details of the transaction are yet to be disclosed.
Abengoa intends to incorporate its molten salt tower proprietary technology for the project along with the already-in-use tower technology. The planned modifications are expected to increase the thermal energy storage capacity of the plant.
Project planning had initially proposed two towers for solar-thermal power generation, which only one has been approved for by the California Energy Commission (CEC). Abengoa is preparing to pursue approval for the second tower and intends to present a different configuration for power storage.
The US state plans to produce at least one-third of its power from renewable sources by 2020.
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By GlobalDataProposed developments for the project seek to meet the consumer power requirements in California, Abengoa claimed.
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