GE invests in Integrated Solar Combined Cycle tech
Agreement with eSolar enables GE to provide ICSS technology worldwide
GE has announced that it has entered into an investment and licensing agreement with a California-based solar company, for the provision of Integrated Solar Combined Cycle technology.
The tie-up with eSolar, an established provider of tower-based concentrating solar thermal technology, will enable the electricity giant to deploy ICSS technology to its worldwide customers.
Paul Browning, president and CEO of GE’s thermal product division, said: “When we look at the long-term future of power generation, we see the importance of integrating natural gas and renewable energy sources in new and innovative ways. This will enable us to provide energy that is cleaner, more cost effective and more reliable.”
Under the terms of the agreement, GE will license and incorporate eSolar technology into its offers of cost-effective ISCC and standalone solar thermal power plants, expecting the transactions to close within a month. GE will become a minority stakeholder in the company, but no financial terms have been disclosed.
An ISCC project combines a combined-cycle system including a gas turbine, steam turbine, generators and a heat recovery steam generator, with a field of mirrors that focus sunlight on a tower to produce high temperature steam. Steam generated in the solar field is fed into the water-steam cycle of the combined-cycle plant, increasing the power of the steam turbine and creating extra megawatts of electricity without using any additional natural gas.