SolarReserve is a California-based power production company with a market-leading renewable energy technology that enables it to store captured solar energy and deliver electricity on demand. SolarReserve’s power plants draw their heat from the sun – the Earth’s ultimate source of clean energy. And unlike other forms of renewable energy technologies, SolarReserve’s power plants can deliver power whenever it is needed, either 24-hours per day or only during “peak” demand.
SolarReserve’s technology was developed by scientists at the Pratt & Whitney Rocketyne division of United Technologies Corporation. Rocketdyne demonstrated the technology at the Solar One and Solar Two power plants in Southern California. United Technologies has granted SolarReserve the proprietary technology know-how and an exclusive worldwide license to develop power plants using this proven technology.
SolarReserve was formed in 2007 by experts of the power production industry, a California-experienced team with a record of more than 5,000 MW ($10 billion) of clean energy projects financed and operated globally. SolarReserve is backed by a consortium of major financial partners led by the private equity firm US Renewables Group (USRG), a $575 million private equity firm exclusively focused on renewable power and clean fuel projects.
SolarReserve currently has more than 20 projects in various stages of development in the US and abroad, representing more than 3,000 MW of electricity, with the lead projects located in prime solar areas of California, Nevada, Arizona and Spain.