BLYTHE, Calif.--()--Solar Trust of America, an integrated solar energy company, today announced it will convert the first 500 MW phase of the Blythe Solar Power Project from concentrated solar power (CSP) to photovoltaic (PV) technology. When completed, the Blythe Project will have a total nominal capacity of 1,000 MW. The company identified improved PV market conditions as the main driver in the decision.
“In light of our change in technology, we now plan to finance the facility in the commercial bank market”
“This move underscores Solar Trust’s focus on maximizing the potential of our sites by deploying the right technology at the right time,” said Uwe T. Schmidt, Chairman and CEO of Solar Trust of America. “We develop solar projects at the size and scope of the largest conventional power plants, and in doing so validate solar as a mainstream energy source. Our expansive solar supply chain leverages economies of scale and improves the competitiveness of our projects and other utility-scale projects throughout the Southwest.”
Solar Trust believes developing the site as a commercial PV project is a more attractive strategy for the company in the current market. “In light of our change in technology, we now plan to finance the facility in the commercial bank market,” continued Schmidt.
Due to the change to PV technology, Solar Trust of America will be able to roll out construction of the Blythe facility in phases, rather than 250MW at-a-time as was planned with CSP. Solar Trust of America has one of the largest project pipelines in the solar industry with 2,250 MW of sites in advanced stages of development in the U.S. The company also has signed agreements for 1,500 MW of transmission access.
Schmidt emphasized the continued importance of solar thermal technology in Solar Trust’s product portfolio moving forward: “As the PV base in North America grows, the grid-stabilizing characteristics of CSP will be recognized and rewarded.”
About Solar Trust of America
Solar Trust of America is an integrated solar energy company with several utility-scale solar energy projects under development throughout the American Southwest, including the 1,000 MW Blythe Solar Power Project, the largest solar project in the world. The company has 1,250 MW of additional solar power projects in advanced stages of development in California and Nevada. As a fully integrated company, Solar Trust of America works across the entire solar value chain, including project design, financing, procurement, construction, operation, and management.
For more information visit www.SolarTrustofAmerica.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements regarding Solar Trust of America, LLC, its shareholders and subsidiaries (including but not limited to STA Development, LLC) (collectively referred to as the “Company”), related to plans, estimates, assumptions, expectations or projections about the future other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding the design, construction, capacity or operation of the planned Blythe Solar Power Project, other planned solar power plants, expected actions of the U.S. Department of Energy or other regulatory authorities, as well as statements about the Company’s financing, construction, strategies, objectives, goals, targets, outlook, technologies, and business and financial prospects. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from current expectations, including, but not limited to, those set forth in this press release. These forward-looking statements should not be relied upon as representing the Company’s views as of any subsequent date, and the Company is under no obligation to, and expressly disclaims any responsibility to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. Information set forth in this press release pertaining to third parties has not been independently verified by the Company and is based solely on publicly available information or on information provided to the Company by such third parties for inclusion in this press release.