GE to sell solar and gas technology globally

GE Energy entered into an investment and licensing agreement with concentrating solar thermal provider eSolar that enables GE (NYSE: GE) to deploy Integrated Solar Combined Cycle (ISCC) technology to customers worldwide. MetCap Energy Investments, a Turkish investor and developer of power projects, plans to collaborate with GE in making this investment. Financial terms of the deal were not disclosed.

Under the agreement, GE will license and incorporate eSolar technology into its offers of ISCC and standalone solar thermal power plants. The transaction is expected to close by the end of July.

An ISCC project combines a combined-cycle system including gas and steam turbines, generators and a heat recovery steam generator, with a field of mirrors that focus sunlight on a tower to produce high temperature steam. Steam generated in the solar field is fed into the water-steam cycle of the combined-cycle plant, increasing the power of the steam turbine and creating extra megawatts of electricity without using any additional natural gas. GE will combine its new FlexEfficiency 50 combined-cycle technology with eSolar’s technology.

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