March 05, 2015 11:12 AM ET

Independent Power and Renewable Electricity Producers

Company Overview of SolarReserve, LLC

Company Overview

SolarReserve, LLC develops, builds, and operates solar power plants in the United States and Spain. It builds utility-scale solar power projects, which include the development of concentrated solar power and photovoltaic. SolarReserve, LLC was incorporated in 2007 and is based in Santa Monica, California with an additional office in Santiago, Chile and operations in Southern Europe, Africa, the Middle East, China, India, and Australia.

2425 Olympic Boulevard

Suite 500 East

Santa Monica, CA 90404

United States

Founded in 2007

Phone:

310-315-2200

Fax:

310-315-2201

Key Executives for SolarReserve, LLC

Chief Executive Officer and Director
Chief Financial Officer
Age: 46
Senior Vice President of Operations
Vice President and General Counsel
Senior Vice President of Development
Compensation as of Fiscal Year 2014.

SolarReserve, LLC Key Developments

SolarReserve, LLC Seeks IDB Loan for 20-MW Solar Park in El Salvador

SolarReserve LLC is asking for USD 21 million (EUR 17 million) in loans from the Inter-American Development Bank (IDB) to build a 20-MW solar plant in El Salvador. The Acajutla Energia Solar I photovoltaic (PV) scheme will require a total investment of USD 53 million, IDB said on its website. According to the lender, SolarReserve aims to secure up to 40% of the project costs through IDB financing and also expects to get up to USD 10 million in concessional financing from the Canadian Climate Fund (C2F). The remaining portion of the needed funds will be provided from other sources of long-term debt and base equity from SolarReserve. The solar park, to be constructed near the City of Acajutla, will be equipped with polycrystalline solar modules and single-axis trackers. Once commissioned, it will be able to produce about 53,000 MWh of electricity annually. The generated power will be sold to seven electricity distribution companies of El Salvador under a 20-year contract signed in July. The scheme is part of SolarReserve's 800-MW pipeline of solar projects in Latin America, which include concentrated solar power (CSP), PV and hybrid installations.

ACWA and Abengoa Reported The Lowest Bids For Morocco Ouarzazate CSP Plants

The second phase of Moroccan Ouarzazate CSP project has received lowest bids from Abengoa SA (CATS:ABG) and ACWA Power International, Reuters reported citing sources involved in the deal. The official result for the tender is expected in the coming weeks. The three consortium selected to bid for Noor II, a 200 MW parabolic trough plant were Abengoa SA (CATS:ABG) and Abengoa Solar S.A.; ACWA Power International and SENER Grupo de Ingeniería, S.A. and International Power SA and Masdar. For the Noor III, a 100 MW CSP plant, the consortiums selected were Abengoa SA (CATS:ABG) and Abengoa Solar S.A.; Electricite de France SA (ENXTPA:EDF), EDF Energies Nouvelles S.A., BrightSource Energy, Inc., Brookstone Partners, Alstom Power System SA and Mitsui & Co. Ltd. (TSE:8031); ACWA Power International and SENER Ingeniería y Sistemas S.A.; International Power SA, SolarReserve, LLC and Masdar.

SolarReserve Completes Construction of 96 MW Photovoltaic Jasper Solar Power Project

SolarReserve announced that the 96 megawatt (MW) photovoltaic (PV) Jasper solar power project completed construction and is fully operational, almost two months ahead of schedule. Jasper is located in South Africa's Northern Cape in a solar park that also includes the 75 MW Lesedi solar power project which came online in May, and the proposed 100 MW Redstone concentrated solar thermal power (CSP) plant featuring SolarReserve's CSP technology with integrated energy storage. The Jasper Project generated about 1 million man-hours during construction, peaking at over 800 on-site construction jobs. As part of the South African Renewable Energy Independent Power Producer Procurement Program (REIPPPP), the project will set aside a percentage of total project revenues for Enterprise Development and Socio-Economic Development for the benefit of the local communities. With over 325,000 PV modules, the Jasper Project will deliver 180,000 megawatt-hours of renewable electricity annually for South Africa residents -- enough to power up to 80,000 households through a 20-year power purchase agreement with Eskom, the South African power utility company. Selected by the South Africa Department of Energy (DOE) in the second round of bids under the REIPPPP, the project also marked Google's first renewable energy investment in Africa.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
October 27, 2014
Aerojet Rocketdyne, Inc., Concentrating Solar Power Business
Merger/Acquisition
July 15, 2014
Humitos Pty Ltd., H1-H7 and H9-H17
 

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