GE to invest up to $40 mn in eSolar

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eSolar, a leading developer of modular, scalable concentrating solar thermal power technology, announced today that in addition to its licensing agreement with GE Energy, GE has closed a strategic investment in the company. As part of the deal Paul Browning, president and CEO of Thermal Products, for GE Energy, will join the eSolar board of directors.

“Our partnership with GE moves our innovative technology to the next stage. Together, we are able to bring to market a power plant solution that drives down the cost of solar and meets the growing demand for renewable energy generation,” said John Van Scoter, President and CEO of eSolar.

GE also recently unveiled its Integrated Solar Combined Cycle (ISCC) power plant–a highly efficient and cost-effective power plant solution that couples eSolar’s innovative solar thermal technology with GE’s fleet of combined cycle products. When combined with GE’s recently announced FlexEfficiency 50 Combined Cycle Power Plant technology, ISCC power plants are capable of delivering fuel efficiencies in excess of 70 percent.

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