Solar thermal provider nets $40mn GE investment

GE Energy, a unit of GE (NYSE: GE), is investing $40 million in eSolar as part of an investment and licensing agreement with the concentrating solar thermal provider.

The agreement allows GE to deploy Integrated Solar Combined Cycle (ISCC) technology to customers worldwide. Under the deal, GE will license and incorporate eSolar technology into its offers of ISCC and standalone solar thermal power plants.

The ISCC system pairs solar thermal technology with GE’s fleet of combined-cycle products, including a gas turbine, steam turbine, generators and a heat recovery steam generator, along with a field of mirrors.

The two companies are targeting Europe, Africa, the Middle East and the United States, and are working on a 530 MW project in Turkey with Turkish investor and power project developer MetCap Energy, which will feature 50 MW of eSolar concentrated solar thermal tower technology integrated with GE's FlexEfficiency 50 combined-cycle power plant.

Read more combined-cycle news

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