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SolarReserve, a global developer of utility-scale solar power projects and advanced solar thermal technology, received the prestigious Platts Global Energy Rising Star Company Award for industry leadership in advancing breakthrough energy storage technology and markets that are transforming the energy industry. Platts also recognized the company's strategic acquisition of Aerojet Rocketdyne's concentrating solar power (CSP) business, with an Award of Excellence for Strategic Deal of the Year.
Over the past 15 years, the Platts Global Energy Awards have honored and recognized those who have transcended the status quo in the name of excellence in leadership, innovation and performance in the energy industry. Finalists were chosen for the Global Energy Awards from more than 200 nominations in over three dozen countries representing 4 continents, including some of the world's leading energy giants in both conventional and alternative energy.
"We are honored to receive recognition from Platts and its distinguished panel of judges for our industry leadership in advanced energy storage technology as well as our success in developing large-scale solar power projects globally," said SolarReserve's CEO Kevin Smith. "It is gratifying to have industry experts from around the world recognize the value and strategic vision of these achievements."
SolarReserve currently has more than $1.8 billion of projects in operation worldwide, with a development pipeline of 6.6GW across the world's most attractive, high growth renewable energy markets, In addition, SolarReserve has commercialized a proprietary advanced solar thermal technology with integrated energy storage that solves the intermittency issues experienced with other renewable energy sources. This proven US-developed technology generates renewable baseload and dispatchable power and can compete with traditional fossil-fired and nuclear electricity generation. The company's flagship 110 MW Crescent Dunes Solar Energy Plant in Nevada, with 10 hours of full-load energy storage, is the world's first utility-scale facility to feature advanced molten salt power tower energy storage capabilities. The Crescent Dunes project initiated electricity generation earlier in the year after completing synchronization with the grid, and the project has achieved full load electricity generation at 110 MW of net electricity output. With full electricity generation output confirmed, the project is progressing into full commercial operations.