With Shanghai suffering both its hottest weather and highest power demand on record, BrightSource has signed Memorandums of Understanding (MOUs) with key organizations in the Chinese energy market. Partners include the China Power Investment Corporation (CPI); the China Renewable Energy Engineering Institute (CREEI); and Huanghe Hydropower Development Co, a subsidiary of CPI.
The agreements, struck at the U.S.-China Renewable Energy Industry Forum in Shanghai, reflect BrightSource's strategic focus on fast-growing international market for Concentrating Solar Power (CSP).
Together, these MOUs will make possible the first commercial-scale CSP plant constructed under the U.S.-China Framework for the Ten-Year Cooperation on Energy and Environment. (Established in 2008, the Framework "facilitates the exchange of information and best practices between the two countries to foster innovation and develop solutions to the pressing energy and environment problems both countries face.")
Selected by virtue of its development expertise on display at Ivanpah, BrightSource will supply technology for the project. Huanghe will lead development, construction and operation of the project. BrightSource and Huanghe will collaborate to complete the project in accordance with their amended MOU. Working with CPI, the project will be configured to meet local conditions as well as the nation's grid requirements for stable and dispatchable output.
BrightSource will also work with CPI to track CSP technology developments for future cost reductions, pursue relevant policy developments in China and explore collaboration in international markets.
CREEI was selected by China's National Energy Administration to organize related parties to compile a national CSP handbook to help guide the development of future CSP projects. Under the CREEI MOU, BrightSource will cooperate on issues regarding efficient utilization of solar power.
