08 Jun '11, 9pm

GE Investment in eSolar Fills Crucial Gap in Energy Portfolio

General Electric's new investment in solar company eSolar will allow it to sell hybrid power plants that run on solar during the day and natural gas at night. On Monday, GE announced it would invest in California-based concentrating solar power (CSP) company eSolar to supply the solar portion of the equation. Financial terms were not disclosed, but the deal gives GE the licensing rights to sell and develop standalone solar thermal power plants or hybrid power plants globally, using eSolar's modular technology. eSolar's technology fills a crucial piece in GE's energy portfolio. It uses small, flat, pre-fabricated mirrors called heliostats to track the sun and reflect its heat to a tower-mounted receiver, which then produces steam. GE will integrate this technology with its recently introduced FlexEfficiency 50 natural-gas fired turbines to create hybrid power plants, also r...

Full article: http://www.sustainablebusiness.com/index.cfm/go/news.disp...

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