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Categorized | Energy and water, News

SolarReserve opens office in Dubai, establishing hub in the MENA region

SolarReserve, developer of large-scale solar power projects and advanced solar thermal storage technology, today announced its expansion into the Middle East with the opening of a new office in Dubai, which will serve as a hub for development activities in the region.

Continuing its ongoing efforts to provide reliable, cost-effective, clean energy solutions worldwide, SolarReserve is pursuing both large-scale concentrating solar power (CSP) with thermal energy storage and photovoltaic (PV) projects that make optimal use of the region’s abundant solar energy resources. As SolarReserve develops projects in the region, the company will continue to open country-specific offices to meet the needs of an expanding customer base, support project construction and operation, as well as to support local economies and employment.

For oil-exporting countries, the move to solar energy is directly correlated with rising fossil fuel prices. With the goal of maximising the economic gain from their remaining oil reserves, many oil-rich nations are moving away from domestic oil and gas consumption so that they can export this finite resource for the highest return. Through heavy investment in solar development, these countries are moving boldly towards sustainable energy independence–ensuring that their growing populations will have an additional zero emission form of energy to meet their needs while creating a substantial industry and associated jobs and knowledge base within the region.

“In recent years, solar power generation has seen increasing growth in the MENA region. SolarReserve is committed to furthering support of its strong partnerships in MENA through the establishment of a regional hub that begins with an on-the-ground presence in Dubai,” said SolarReserve’s CEO Kevin Smith. “SolarReserve’s world-leading solar thermal technology with integrated molten salt storage offers a cost-effective, reliable and most importantly, a baseload supply of electricity that is a game-changer for the region. Not only do we offer technology that can generate power on-demand, day and night, but our plants are dry-cooled which is critically important in a region with scarce water resources.”

SolarReserve’s industry-leading CSP technology features an integrated molten salt energy storage system that enables firm, reliable electricity to be generated on-demand and delivered to meet the client’s power needs. This energy storage capability provides a stable electricity product similar to that of conventional fossil fuel-burning power facilities, but without the associated harmful emissions and price volatility. SolarReserve’s CSP technology either alone or coupled with PV, can provide a cost effective and reliable alternative to fossil fuel generation with the reduction in emissions to near zero.

 

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