CRESCENT DUNES

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Crescent Dunes concentration solar power project financed with help from a Department of Energy loan guarantee

PROJECT SUMMARY

In September 2011, the Department of Energy issued a $737 million loan guarantee to finance Crescent Dunes, a 110-MW concentrating solar power (CSP) plant near Tonopah, Nevada. It uses power tower technology that concentrates solar energy to heat molten salt, converting that heat into electricity. Upon completion, Crescent Dunes became the largest molten salt power tower in the world.

TECHNOLOGY INNOVATION

Crescent Dunes is the first deployment of solar power tower technology in the United States that uses molten salt as a primary heat transfer fluid. The heat absorbed by the salt can be stored and produce electricity when required. This enables the plant to generate clean, renewable power during times when direct sunlight is not available. The innovative molten salt storage allows the project to generate power at full load on call (dispatched) for up to 10 hours without any sunlight.

ECONOMIC IMPACT

Crescent Dunes created more than 600 construction jobs and is expected to support 45 permanent jobs. Under the project’s unique development agreement with Nye County, the project targets filling 90% of the construction jobs with Nevada residents, utilizing both union and non-union subcontractors. During operations, the project will disburse more than $10 million per year in salaries and operating costs.

CLIMATE BENEFIT

Crescent Dunes is expected to generate 482,000 megawatt-hours of clean energy per year while preventing 279,000 metric tons of carbon dioxide emissions annually.

 

PROJECT STATISTICS: CRESCENT DUNES

PROJECT SUMMARY Owners SolarReserve, LLC, ACS Cobra & Banco Santander
Location Nye County, Nevada
FINANCIAL SUMMARY Loan Program

Title XVII

Loan Type

Loan Guarantee

Loan Amount 1 $737 Million
Issuance Date September 2011
ENERGY SUMMARY Operation Status Operating
Generation Capacity 110 MW
Projected Annual Generation 2 482,000 MWh
ECONOMIC IMPACT Permanent U.S. Jobs Supported 45
U.S. Construction Jobs Supported 3  600
CLIMATE BENEFIT CO2 Emissions Prevented Annually

279,000 Metric Tons

NOTES:

All information up-to-date as of June 2017.

1 Amount of the loan facility approved at closing including principal and any capitalized interest. 

2 Calculated using the project's and NREL's Technology specific capacity factors. For cases in which NREL's capacity factors do not encompass project's specific design and operation, project specific capacity factors are used.

3 Estimated at the time of closing.

 

PROJECT PHOTOS

SolarReserve
SolarReserve
Crescent Dunes
SolarReserve
SolarReserve
SolarReserve