SANTA MONICA, Calif.,
April 27, 2015 /PRNewswire/ --
SolarReserve has been named a 2015 Silver Winner for innovation by
the internationally renowned Edison Awards™. The distinguished
awards recognize innovation, creativity and ingenuity in the global
economy. Being recognized with an Edison Award has become one of
the highest accolades a company can receive in the name of
innovation and business. The awards are named after Thomas Alva Edison (1847-1931) whose inventions,
new product development methods and innovative achievements
literally changed the world, garnered him 1,093 U.S. patents, and
made him a household name.
SolarReserve, a leading developer of utility-scale solar power
projects and advanced solar thermal energy storage technology, is
changing the way we generate electricity around the world. As
renewable energy penetration grows, the need for utility-scale
renewable generation with storage technology is increasingly
important to mitigate intermittency problems, deliver power into
peak demand periods, and support transmission system reliability.
With over 50 US and global patents, SolarReserve's proven
US-developed technology generates renewable baseload and
dispatchable power and can compete with traditional fossil-fired
and nuclear electricity generation. The company currently has more
than $1.8 billion of projects in
construction and operation worldwide, with development and
long-term power contracts for 482 megawatts (MW) of solar projects
representing $2.8 billion of project
capital.
"It's exciting to see companies like SolarReserve continuing
Thomas Edison's legacy of
challenging conventional thinking," said Frank Bonafilia, Edison Awards' executive
director. "Edison Awards recognizes game-changing products and
services, and the teams that brought them to the market."
"We are honored to receive recognition from the Edison Awards
and its distinguished panel of judges for our success in developing
and commercializing breakthrough technology that solves the
intermittency issues experienced with other renewable energy
sources," said SolarReserve's chief executive officer, Kevin Smith. "It is gratifying to have industry
experts recognize the value and strategic vision of this technology
as well as SolarReserve's leadership in solar power and energy
storage."
The ballot of nominees for the Edison Awards was judged by a
panel of more than 3,000 leading business executives including past
award winners, academics and leaders in the fields of product
development, design, engineering, science and medical.
About SolarReserve
SolarReserve, LLC – headquartered
in Santa Monica, California – is a
leading developer of utility-scale solar power projects and
advanced solar thermal technology with more than $1.8 billion of projects in construction and
operation worldwide. The company's experienced team of power
project professionals has assembled an extensive global development
pipeline of 6.6 gigawatts (GW) across the world's most attractive,
high growth renewable energy markets. The robust portfolio is
strategically positioned to secure power offtake contracts, and
includes advanced solar thermal technology (Concentrating Solar
Power or "CSP"), photovoltaic (PV) technology, and hybrid (combined
CSP and PV). SolarReserve's hybrid CSP/PV solutions eliminate the
intermittency issues associated with PV-only projects while
providing cost efficient and reliable electricity generation.
SolarReserve's 110 MW Crescent Dunes Solar Energy Plant located
in Nevada is the world's first
utility-scale solar thermal facility to feature advanced molten
salt power tower energy storage capabilities. The project,
complete with construction and currently in the commissioning
phase, is scheduled to commence full operations in mid-2015 and
will be the only operating utility-scale molten salt power tower on
the planet. The Crescent Dunes project includes 10 hours of
full-load energy storage utilizing SolarReserve's proprietary solar
energy storage technology and the project will deliver more than
500,000 megawatt-hours of electricity per year. Nevada's largest electric utility, NV Energy,
will purchase 100 percent of the electricity generated by the
Crescent Dunes project under a 25-year power purchase agreement and
is expected to dispatch the project to generate solar generated
electricity until 12 midnight in order to meet its peak energy
demand periods.
SolarReserve is headquartered in Santa
Monica, California, and maintains a global presence with
seven international offices strategically located in Africa, the Americas, the Asia-Pacific region, the Middle East, and Europe to support its widespread project
development activities across more than 20 countries.
Media Inquiries:
Mary Grikas, Mary.Grikas@SolarReserve.com, 310-315-2274
About the Edison Awards™
The Edison Awards is a
program conducted by Edison Universe, a non-profit, 501(c)(3)
organization dedicated to fostering future innovators. The Awards
have been recognizing and honoring the best in innovations and
innovators since 1987. They honor game-changing innovations that
are at the forefront of new product and service development,
marketing and human-centered design, and are one of the highest
accolades a company can receive in the name of successful
innovation. For more information about the Edison Awards complete
program and a list of past winners, visit www.edisonawards.com.
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SOURCE SolarReserve