The Gold Report
Last Thursday, U.S. Secretary of the Interior Ken Salazar gave final approval for a huge project at Ivanpah Valley, California. Private (for the moment) company BrightSource Energy Inc. will begin constructing the world's largest system of solar mirrors—or heliostats. Three solar towers will create the energy to drive generators to produce electricity for southern California.
And the electricity they expect to produce is impressive—400 megawatts, enough to power more than 140,000 homes and directly reduce carbon dioxide emissions by 400,000 tons a year.
In his announcement, Salazar mentioned benefits like job creation, revitalizing the local economy, and promoting energy independence, in addition to taking a giant step toward clean energy and a reduction in the carbon footprint.
Friday morning, SolarReserve—another private California holding that's developing utility-scale solar power projects—announced it is moving forward on the Rice Solar Energy Project (RSEP). This decision results from the recent approval given by the California Public Utilities Commission to Pacific Gas & Electric Co. for a 25-year power purchase agreement.
RSEP will provide 150 megawatts of power. According to SolarReserve estimates, that equal about 450,000 megawatt-hours of power and be enough to supply clean
The company is using an advanced molten salt system under exclusive worldwide license from United Technologies Corp.
A U.S. Department of Energy test successfully demonstrated the molten salt process in California over 10 years ago. That test was conducted at a 10-megawatt pilot plant designed and constructed by Rocketdyne (now part of United Technologies Corp.).
Frankly, these are exciting developments for us investors. But you need to keep them in perspective.
The rising players of note in the sector remain private companies; capital investment is still a problem. Nonetheless, advances are happening. . .
Notable Quotes
"GRG has an exciting high-grade silver discovery and just released an NI-43-101-compliant resource estimate with 105 Moz Ag eq." (5/17/13) Golden Arrow Resources Corp. - The Gold Report Interview with Thibaut Lepouttre More >
"THO's Escobal remains on budget and on schedule; its progress is encouraging." (5/10/13) Tahoe Resources Inc. - Chris Thompson, Raymond James More >
"We reiterate our Outperform rating on P and it remains one of our top picks." (5/10/13) Primero Mining Corp. - Shawn Campbell, Macquarie Capital Markets More >
"DGC is attractively priced and should outperform its peers." (5/10/13) Detour Gold Corp. - Brad Humphrey, Raymond James More >
"Lead, zinc and gold factor heavily into the economics for MAG's Juanicipio silver project." (5/14/13) MAG Silver Corp. - The Metals Report Interview with Brent Cook More >
Major Solar Projects Get OK
Source: Seeking Alpha, Kent Moors (10/11/10)
"They expect to produce 400 megawatts, enough to power more than 140,000 homes."
More Experts
"ATY absolutely has potential for further discoveries at El Roble." (5/10/13) Atico Mining Corp. - The Gold Report Interview with Paul Harris More >
"OLE has the single largest set of deposits in Senegal, a country where gold mining is growing." (5/13/13) Oromin Explorations Ltd. - The Gold Report Interview with Peter Grandich More >
"BRD's Grey Fox continues to return high-grade gold results." (5/9/13) Brigus Gold Corp. - Eric Winmill, Casimir Capital More >
"We currently have a Buy recommendation on PVG." (5/8/13) Pretium Resources Inc. - Ash Guglani, Salman Partners More >
"NGC will solidify its position as having the most advanced and economically robust graphite project out there." (5/8/13) Northern Graphite Corporation - Kiril Mugerman, Industrial Alliance Securities More >