Crescent Dunes Solar Energy Project Tonopah, Nevada

Transcription

Crescent Dunes Solar Energy Project
Tonopah, Nevada
Kevin Smith
CEO, SolarReserve
June 27, 2012
Copyright © 2012 SolarReserve. All Rights Reserved.
Crescent Dunes Solar Energy Project
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Location: Tonopah, Nevada
Technology: CSP with Thermal Energy
Storage (10 hours full load storage)
Size: 110 MW
Energy production: more than 500,000
MW-hours annually (twice the output per
MW of other solar technologies)
Capacity factor: 52%
Power contract: NV Energy – 25 years
EPC Contractor: Cobra Thermosolar
Plants, Inc. with full EPC “wrap”
Technology Supplier: SolarReserve under
a subcontract to Cobra
Investors:
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SolarReserve (managing investor)
Cobra
Santander
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Molten Salt Power Tower Technology
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The Non-intermittent Renewable Alternative
Trough and direct steam w/o
storage (gray)
PV (blue)
SolarReserve’s
technology
100%
Percent Load
80%
60%
40%
20%
0%
6:00
8:00
10:00
12:00
14:00
16:00
18:00
20:00
22:00
Time of Day
Source: SolarReserve: Rice Onsite Solar Data March 5, 2010
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Crescent Dunes – Project Overview
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Power Purchase Agreement
 25-year contract with NV Energy for 100% of project output
 Value of storage recognized by NVE and Utility Commission
Financing
 Debt and equity financial close reached in September 2011
 $737 million DOE Loan Guarantee
 $260 million equity from SolarReserve, ACS Cobra and Banco Santander
EPC – Construction Contract with ACS Cobra
 Fixed price, guaranteed completion date and guaranteed performance with liquidated
damage payments for any shortfalls
 Parent guarantee on performance from ACS Industrial (ACS SCE) - revenues of $9.95
billion and EBITDA of $1.15 billion, total assets of $12.8 billion (2010)
Project Benefits
 Load following into the evening hours during summer peak – NV Energy peak continues
to 11PM or later
 Grid stability and reliability
 State renewable energy compliance (RECs and MWh)
 Jobs in a high unemployment region of Nevada
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Project Construction Started in August 2011
Tower foundation installation
Start of tower slip form concrete work
Steel reinforcement
Nearing tower completion
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Construction Proceeding on Schedule
Tower and site overview
Tower Receiver Deck
Emergency Coolant Vessel
Hot Salt Tank Foundation
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Current and Future Project Milestones
 Completed tower – December 15, 2011
 Completed power block foundations – Spring 2012
 Receiver components on site – Summer 2012 (first steel in March)
 Heliostat foundations – Initiate July 2012
 Heliostat assembly initiated – September 2012
 Receiver assembly complete – December 2012
 Initiate commissioning – June 2013
 Commercial Operation Date under the PPA – December 31, 2013
 Enter into 12-month continuous performance tests
 Full Provisional Acceptance – March 2014
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Tower Completion – December 15, 2011
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Project Arrangement
Project Rendering
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>2,000 MW CSP Development - US Southwest
UT
Lordsburg
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Global CSP and PV Development Program
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Contact Information
www.solarreserve.com
[email protected]
Corporate Headquarters:
2425 Olympic Blvd.
Suite 500 East
Santa Monica, CA 90404
Phone: (310) 315-2200
Toll-Free: (866) 622-2778
Fax: (310) 315-2201
European Headquarters (Spain):
C/ Fernando el Santo, 17
Madrid, Spain 28010
Phone: +34 913-514-945
7/9/2012
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Crescent Dunes Solar Energy Project Tonopah, Nevada

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