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Felicia Bellows

CSP Today -- CSP vs PV. Felicia Bellows. June 29, 2011. Who is Torresol Energy?. 40%. 60%.

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Felicia Bellows

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  1. CSP Today -- CSP vs PV Felicia Bellows June 29, 2011

  2. Who is Torresol Energy? 40% 60% Founded in 1956, SENER ranks as the largest privately owned engineering company in Spain. The company is recognized for its capacity to deliver innovative and highly complex multi-disciplinary projects. Owned by the government of Abu Dhabi (UAE) through the Mubadala Development Company, Masdar is committed to developing and delivering energy solutions.

  3. Gemasolar: Need I Say More? Molten salt receiver, 120 MWth, 20 Mwe, 15 hrs. TES, 6,500 hr/yr

  4. Gijón Santander Bilbao Oviedo La Coruña San Sebastian Vitoria Pamplona Vigo Burgos Valladolid Zaragoza Lleida Barcelona Segovia Tarragona Salamanca Madrid Cuenca Palma Valencia Cáceres Ciudad Real Badajoz Albacete Alicante Murcia Jaén Córdoba Cartagena Sevilla Granada Granada Almeria Málaga Cádiz El Ejido Marbella Gibraltar SENER CSP Experience SENER has participated in thedesign and construction of 20 CSP units in Spain and the USA witha total installedcapacity, once in operation, of more than1,100 MW.

  5. Established in April 2006, Masdar (the Abu Dhabi Future Energy Company) is focused on development, commercialization and deployment of renewable energy solutions and clean technologies. • The first major hydrocarbon-producing nation to take such a step, it has established its leadership position by launching the Masdar Initiative, a global cooperative platform for open engagement in the search for solutions to some of mankind's most pressing issues: energy security, climate change and truly sustainable human development. • Masdar consists of three business units and one investment arm: • Masdar Carbon specializes in developing energy efficiency and clean fossil fuel projects to bring about reductions in carbon emissions • Masdar City is a clean technology cluster being developed on the outskirts of Abu Dhabi that is expected to be powered entirely by renewable energy • Masdar Power builds and invests in utility scale renewable energy power projects • Masdar Venture Capital manages the Masdar Clean Tech Funds, a series of diversified venture capital investment vehicles focused on building portfolios of direct investments in clean technology and renewable energy • MASDAR, without Torresol Energy, also is developing CSP plants in Abu Dhabi, and their first plant “Shams • 1” is expected to be completed in 2011.

  6. CSP & PV – The Product Not the same product Not the same cost Not the same value Not comparable PV’s product represents a portion of CSP’s PV offers energy only CSP offers energy, storage, full dispatchability & grid ancillary services Utilities want what CSP provides, but cannot justify purchasing with current regulation Translation ……. Regulatory issue Without incentives, heading toward price driven decisions which are not good in the long-term for the grid

  7. SENER Spain Experience: Gemasolar 20 MW

  8. Advantage of a SENERTower Plant with Thermal Storage During the summertime, Gemasolar can supply energy continuously to the grid. *Gemasolar computer simulation for July

  9. CSP vs PV -- Financing PV is considered more easily financeable US financing for CSP has mostly been DOE Internationally, CSP has been project financed Key is size. Mega projects do not make sense for project financing. US CSP developers need to rethink approach here to secure project financing. Torresol Energy & SENER are examples of successful project financings for CSP.

  10. GemasolarFinancing November, 2008 – Closed Project Financing 29,9% 73 M€ 33,33% 33,33% 33,33% 70,01% 171 M€ 244 M€ November 2009 - Refinancing 80 M€ 46,8% 91 M€ 53,2% 171 M€ Digital Image of Gemasolar Gemasolar is the first SENERTower in the world. It has 15 hours of storage.

  11. Valle 1 & Valle 2 Financing July,2009 – Closed Project Financing 156 M€ 540 M€ 540 M€ 696 M€ 696 M€ Valle 1 & Valle 2 -Europe Clean Technology Deal of the Year (February 2010) Valle 1 & Valle 2  are  the only simultaneously closed project financed projects involving twin plants in Spain to date

  12. End of Construction Dec 2010

  13. May 2011

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