BrightSource Energy signed agreements with different Chinese institutions to provide their expertise on concentrated solar power technology (CSP).
The agreements highlight the importance of China for the global CSP market, and it is another conquest for tower technology.
Leading US developer BrightSource Energy signed Memorandums of Understanding (MOUs) with the China Power Investment Corporation (CPI) and the China Renewables Energy Engineering Institute (CREEI) at the end of July, opening a new chapter for CSP in the Eastern country.
Through the MOUs BrightSource will supply their CSP tower technology to commercial scale projects in China. Moreover, US and Chinese stakeholders will work together on research for cost reduction, relevant policy developments in China and even evaluate collaboration in international markets.
“The global market for CSP is expanding at a rapid pace and that is especially true in China,” said David Ramm, BrightSource Executive Chairman said to the press. “BrightSource looks forward to working with our partners in China to execute these MOU´s. In doing so, we will work to help establish industry best practices and grow a vibrant market for CSP.”
China´s power utilities have total capacities greater than 50 GW. According to the CSP Today Global Tracker, by 2020 8% of their total power capacity will have to come from renewable energy sources.
Therefore, China stands as a market with multiple opportunities for CSP. At CSP Today Sevilla 2013, Beijing based solar consultant Cayetano Hernandez Lluna, from Sun to Market Solutions, will present on the opportunities for CSP in the Chinese market. Additionally, Chinese company HUITIN-GROUP will be showcasing their solar products at the CSP Today Sevilla 2013 joint exhibition with CSP Today Enhanced Plant Engineering 2013 conference.