HomeIndustry SectorsGenerationSolar company to capitalise on $75 billion CSP market in 2025

Solar company to capitalise on $75 billion CSP market in 2025

SolarReserveOn Monday SolarReserve announced the strategic takeover of Aerojet Rocketdyne’s concentrating solar power (CSP) business in Santa Monica, California.

Experts from both firms will collaborate together and share key industry knowledge and technological knowhow to ensure the optimum is achieved in solar thermal energy.

The merge will include intellectual property (IP) rights and patents surrounding molten salt technology an ingredient needed for concentrated solar thermal power storage. Heliostat designs and collector field control systems form part of the package as well.

Chief Engineer, George O’Connor has established himself within the Aerojet Rocketdyne firm as technical guru for the past 35 years working on solar programmes, rocket propulsion and advanced power systems.

SolarReserve Chief Executive Officer, Kevin Smith said ‘The technology acquisition further demonstrates SolarReserve’s industry leadership in solar thermal energy storage, and our ongoing commitment to technology innovation and operational excellence through investments in advanced technology research and development.’

‘With this acquisition and continued advancement on the technology, SolarReserve is well positioned to capture a significant portion of the projected $75 billion CSP market expected to develop through 2025,’ stated Smith.

Smith revealed his excitement with the joint partnership between SolarReserve and Aerojet Rocketdyne where he emphasised the significant impact that this will have on globalising this ‘leading edge technology’.

‘We are excited to have the industry’s top solar thermal technology experts join SolarReserve from Aerojet Rocketdyne… The integrated SolarReserve technology organisation will further innovate, improve performance and reduce deployment costs of this leading edge technology.’

Breakthrough technology in harnessing the sun and storing it has been developed giving the market a product which can supply clean and reliable energy when needed, day or night.

SolarReserve are involved in three solar PV plants in South Africa with a combined generation capacity of 246MW. In May this year, 130 000 homes started receiving clean energy supply from the Lesedi and Letsatsi plants located in the Free State. With an annual electricity generation of 182 000MW hours, the Jasper power project is set for operation this year which will power a further 80 000 homes, making it one of the largest solar projects in Africa.

Nicolette Pombo-van Zyl
As the Editor of ESI Africa, my passion is on sustainability and placing African countries on the international stage. I take a keen interest in the trends shaping the power & water utility market along with the projects and local innovations making headline news. Watch my short weekly video on our YouTube channel ESIAfricaTV and speak with me on what has your attention.


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