Thursday, November 18, 2010

SolarReserve In Joint Venture With PV Solar Firm

Santa Monica-based SolarReserve, a developer of large-scale, concentrated solar power and photovoltaic projects, announced Thursday it is in a joint venture with a photovoltaic power plant operator producer, GCL Solar Energy. According to SolarReserve, the joint venture will develop, build and operate solar photovoltaic facilities in the United States, with more than 1,100 megawatt of photovoltaic development projects in its portfolio. Financial details of the joint venture were not announced. The two said that SolarReserve will be responsible for all aspects of project development, with GCL overseeing PV vendor selection, construction, and long term financing for the photovoltaic projects. GCL Solar Energy is based in San Francisco, and is a susbdiary of Chinese polysilicon firm GCL-Poly Energy Holdings Limited. The new joint venture comes on top of SolarReserve's existing, solar thermal power plant portfolio, which the company says totals almost 3,000 megawatts.