By Renewable Energy Focus staff
eSolar provides tower-based concentrating solar power (CSP) technology.
MetCap Energy Investments, a Turkish investor and developer of power projects, plans to collaborate with GE in making the investment.
“When we look at the long-term future of power generation, we see the importance of integrating natural gas and renewable energy sources in new and innovative ways to provide energy that is cleaner, more cost effective and more reliable,” says Paul Browning, President and CEO – thermal products for GE Energy.
Under the agreement, GE will license and incorporate eSolar CSP technology into its offers of ISCC and standalone solar thermal power plants. The companies expect the transaction, which will establish GE as a minority shareholder, to close within a month.
Financial terms are not being disclosed.