DOE just guaranteed $737 million for a solar energy project. This project use molten salt as the primary heat transfer medium. The loan guarantee is made to the Tonopah Solar Energy, LLC. TSE is a wholly owned subsidiary of SolarReserve, LLC.Technically speaking, the project includes 17,500 heliostats (mirror assemblies) that collect and focus the sun's thermal energy to heat molten salt flowing through an approximately 640-foot tall solar power tower. The high temperature molten salt circulates from the tower to a storage tank, where it is then used to produce steam and generate electricity.
You need to watch this DOE deal unfold? Why? First, although there are many investment partners listed on their website, including Citigroup, there is no indication that any of the investment partners have any cash at risk. Second, the board and the management team are all bluebloods from the power industry with close government ties.
The issue is - if the project is successful, the partners in the LLC get the benefit with apparently none of their own cash at risk. I will be reporting on this latest DOE project. The tax payers takes the risk and the owners take none.
Remember the last DOE solar power loan guarantee ended in a fiasco. Deja Vu perhaps.
No comments:
Post a Comment