Milton Financials: NRG and Brightsource to work together on globes largest solar thermal plant.

Milton Financials has learned that power firm NRG Energy has announced that it would join with Brightsource Energy to develop and operate the globe’s largest solar thermal project and would invest up to $300 million to become the projects prime investor.

Traditionally Solar projects have been based on photovoltaic technology where sunlight is turned into electricity using semiconductor materials in panels but there has been a recent move toward large-scale solar thermal or concentrated solar projects.

Projects using thermal solar power such as the Brightsource development utilize mirrors to focus sunlight on a fixed point to heat a liquid which then produces steam and drives a power turbine, Milton Financials has learned.

NRG is involved in another partnership to develop thermal solar plants with eSolar and has told Milton Financials that construction of the 392-megawatt Ivanpah project in the Mojave Desert is underway and should be operational by mid-2013.

The Ivanpah project has received the go-ahead from both federal and Californian state agencies and was awarded a $1.375 billion conditional commitment from the U.S. Department of Energy.

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This release was published on openPR.