The California Public Utilities Commission’s recent 1.3GW storage mandate to be fulfilled by the states 3 major utilities by 2020 has led to utilities across the nation putting procurement plans in place to avoid being caught out by a wholesale federal roll out of similar legislation.
With the latest announcement of Abengoa winning the first international bid in Chile with a tower project, the market trend towards this technology grows. CSP Today has published a complimentary report in which it outlines how tower technology is set to take the lead in Chile.
Saudi Electricity Company (SEC) has selected CSP to produce electricity with the 550MW Duba 1 project, an Integrated Solar Combined Cycle power plant (ISCC) located 50kmNorth of Duba near Tabuk, on the Red Sea coast of Saudi Arabia.
In December 2013, Phoenix Solar and Mustakbal Clean Tech signed an agreement for the contract of a 1MW PV plant for the Ma’an Development Company. This is the first-utility-scale project confirmed to go ahead in the country.
Spain is reforming its energy market changing the rules of the game for renewable energy. Whilst consequences for CSP are not clear yet, any country looking to invest in this technology can learn from the Spanish case.
At the end of June, the International Finance Corporation (IFC) approved over $47 million of loan financing for a 30MW PV plant to sell energy to the spot market. Another sign of investor confidence in a fast-growing market.