SolarReserve’s 110-MW CSP plant in Nevada to get tax-equity investment

February 26 – SolarReserve Inc’s 110-MW Crescent Dunes concentrated solar power (CSP) project in Nevada is set to receive tax-equity investment from three international companies.

An application for authorisation of the transaction was filed on Wednesday with the Federal Energy Regulatory Commission (FERC). The investment is to come from subsidiaries of One Financial Corp, Mitsubishi UFJ Financial Group Inc and Toyota Tsusho Corp. Its value was not announced.

Tax-equity investments are common in the US renewables sector and are attractive to investors with large tax obligations.

The CSP plant is located near Tonopah and generated its first test electricity in the autumn of 2015. The project has passed the test to reach full commercial operation under its 25-year power purchase agreement (PPA) with electric utility NV Energy, according to a recent press release.

The plans are the facility to ramp up to its full annual output over the coming year. Its solar energy storage technology uses tracking mirrors, known as heliostats, to focus the sun’s energy onto a receiver to directly heat molten salt and then store it so electricity can be produced day and night.

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