SolarReserve signs MOU with Heliostat SA for 150MW solar tower venture

SolarReserve, a developer of utility-scale solar power projects, has reportedly signed a MoU (Memorandum of Understanding) with Heliostat SA, a local South Australian outfit, in a bid to produce & assemble heliostat parts. As per sources, these heliostat components will be utilized in one of the world’s biggest 150-Megawatt solar tower and liquefied salt storage unit planned at Port Augusta.

For the record, heliostats are just like mirrors that reflect sun rays and direct them to a receiver at the top of a solar tower.

According to sources familiar with the development, through this contract, the two companies will together undertake supply, assembly, and fabrication of over 12800 of SolarReserve’s patented SR96 heliostat assemblies to support the Aurora project, which has a valuation of $750 million approximately.

Trusted reports cite that the Aurora solar thermal power facility will function by employing huge tracking mirrors that would follow the sun all day long and concentrate captured sunlight on a liquefied salt receiver, which would store this energy as heat.

As per SolarReserve, each assembly contains ninety-six sq. meters of glass, along with electric drives and steel supports, forming an arena of mirrors having over one million sq. meters of surface coverage.

Kevin Smith, Chief Executive Officer, SolarReserve, was quoted stating that the company is rather thrilled to have entered into a long-standing association with Heliostat SA and that they look forward to collaborating with them for producing world-class heliostats with the South Australian workforce.

Smith added that SolarReserve is committed to supporting South Australia’s objectives like attracting investments and creating jobs in the region.

According to authentic sources, the company has anticipated to lock in funding by the middle of the year and commence construction of the power project in 2018, that would reach completion in late 2020.

Reportedly, SolarReserves’s Aurora project proposes a 150-Megawatt solar tower supporting eight hours storage capacity, which would establish it as the world’s largest facility of this kind.