Nov 25 2010
SolarReserve and GCL Solar Energy (GCL) have entered into an accord and formed GCL-SR Solar Energy, a joint venture to construct and operate large-sized solar power production farms in the United States.
Currently, the new company has over 1,100 MW worth of PV developments in its list. Most of the projects to be implemented are in 5 MW to 20 MW power production range in various locations ear marked for the projects all over the United States.
The new company has plans to take up PV projects up to 400 MW power production capabilities shortly. According to the terms of the signed accord, GCL will hold the responsibility of selecting PV vendor, building the project and long-term funding for the PV projects while SolarReserve will manage all the prospects of project development. The proposed company will have its head quarters in Santa Monica, California. Kevin Smith who currently holds the position of CEO in SolarReserve will take over as President of the new company.
Kevin Smith said that the new venture will make use of GCL’s expertise in PV technology with SolarReserve’s potentialities in recognizing and developing new solar energy projects. He added that the new PV projects will add value to its existing portfolio of around 3,000 MW solar thermal projects utilizing molten salt power production know-how. He said that SolarReserve will continue to concentrate on its solar thermal projects while the venture will work on the PV projects with GCL.
Source: https://sr.energy/