SolarReserve Announces Appointment Of Top Power Plant Development Expert

SOLAR DAILY

SolarReserve will build power plants designed as Solar Power Towers. This configuration captures and focuses the sun's thermal energy with thousands of tracking mirrors (called heliostats) in a two square mile field. A tower resides in the center of the heliostat field. The heliostats focus concentrated sunlight on a receiver which sits on top of the tower. Within the receiver, the concentrated sunlight heats molten salt to over 1000 degrees Fahrenheit. The heated molten salt then flows into a thermal storage tank where it is stored, maintaining 98% thermal efficiency, and eventually pumped to a steam generator. The steam drives a standard turbine to generate electricity.

by Staff Writers
Los Angeles CA (SPX) Jan 21, 2008
SolarReserve, the Los Angeles-based solar thermal company that has recently commercialized an innovative heat storage technology that provides utility-scale solar power on demand, announced that Kevin Smith has been hired to serve as Chief Operating Officer and Head of Development.

"Kevin's expertise in developing and building power plants from the ground up is unparalleled," said Terry Murphy, President and Chief Executive Officer of SolarReserve. "We are fortunate to have his experience and track record of success in all sectors of the energy industry -- wind, natural gas, oil and biomass. He will now be applying that expertise to the solar energy industry with SolarReserve's breakthrough technology."

Smith has more than 20 years of experience in power plant development, acquisitions, financing and construction, having developed and built more than forty power facilities worldwide. Prior to joining SolarReserve, Smith was Senior Vice President of Development at Invenergy LLC. While there, he led the development of Invenergy Wind from a startup company in 2004 to one of the largest privately-owned renewable energy businesses in the world just three years later. By the end of 2007, Invenergy had projects in operation and construction with capital costs estimated at more than $2.0 billion.

"Working for SolarReserve will be a tremendous opportunity," said Smith. "I look forward to using my skills to expand this renewable and dispatchable technology developed by United Technology's subsidiary, HS Rocketdyne. The process of using molten salt to store solar energy for later use is essential to meeting the growing demand for power -- and achieving energy independence at the same time."

Prior to his work at Invenergy, Smith founded and was President of Insight Energy, Inc., was Chief Operating Officer of London-based Rolls-Royce Power Ventures, and was General Manager and Vice President of Indeck Energy. At Rolls-Royce Power Ventures, he led the company's aggressive growth from a startup to a leader in the international development of industrial power projects by building an international team and constructing projects in ten countries.

Smith earned an MBA in Finance from the University of Chicago and a Bachelor of Science degree in Mechanical Engineering from Purdue University and is a registered Professional Engineer.

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Asian PV Technology Show: Germany Offers Top Conditions For Asian Investors

Shenzhen, China (SPX) Jan 16, 2008
Solar energy companies increased worldwide output by over 50% in 2007. Experts believe that the sector has plenty of room to grow, especially as the increasing price of oil forces global leaders to seek alternative forms of energy. Asia's strong interest in renewable energies is translating into rising profit potential for Asian companies.

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