{"id":9771,"date":"2012-04-10T04:02:35","date_gmt":"2012-04-10T02:02:35","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/solarreserve-mulls-ipo-this-year-or-next\/"},"modified":"2012-04-10T04:02:35","modified_gmt":"2012-04-10T02:02:35","slug":"solarreserve-mulls-ipo-this-year-or-next","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/solarreserve-mulls-ipo-this-year-or-next\/","title":{"rendered":"SolarReserve mulls IPO this year or next"},"content":{"rendered":"

\t\t<\/span><\/p>\n

NEW YORK, April 9<\/span> (Reuters) – SolarReserve, which develops
\nlarge-scale concentrated solar power plants, may consider a
\npublic offering of shares later this year or in 2013, chief
\nexecutive Kevin Smith said.<\/span><\/p>\n

<\/span><\/p>\n

Such a move would follow BrightSource Energy Inc’s
\nIPO, expected this month. That company hopes to raise up to
\n$182.5 million.<\/p>\n

<\/span><\/p>\n

“That’s something that we’ll probably evaluate later in the
\nyear or 2013, along with other alternatives, such as (seeking)
\nstrategic investors,” Smith told Reuters, referring to the
\npossibility of a SolarReserve initial public offering.<\/p>\n

<\/span><\/p>\n

SolarReserve is building a 110-megawatt power plant, called
\nthe Crescent Dunes Solar Energy project, near Tonopah, Nevada.<\/p>\n

<\/span><\/p>\n

The company is not looking to raise cash, Smith said, but is
\nseeking debt and equity investors for large plants under
\ndevelopment.<\/p>\n

<\/span><\/p>\n

Shares in most publicly traded solar companies have been
\npummeled in recent months as panel prices have more than halved
\nsince the beginning of 2011.<\/p>\n

<\/span><\/p>\n

Unlike photovoltaic solar, which uses panels to turn
\nsunlight into electricity, SolarReserve’s Crescent Dunes plant
\nwill use thousands of mirrors to reflect sunlight onto a “power
\ntower”.<\/p>\n

<\/span><\/p>\n

That light heats fluid made of molten salt in a receiver,
\nwhich is used to produce steam and run an electricity turbine.<\/p>\n

<\/span><\/p>\n

SolarReserve’s use of molten salt will allow it to conserve
\nthe heat for up to 10 hours at the Tonopah plant so it can
\nproduce electricity far into the evening hours after sundown,
\nunlike photovoltaic solar power.<\/p>\n

<\/span><\/p>\n

The project won a $737 million loan guarantee from the U.S.
\nDepartment of Energy last year, and has attracted investments
\nfrom construction company ACS Cobra and Spanish bank Santander
\n.<\/p>\n

<\/span><\/p>\n

Smith said the company had about 20 other projects in
\nvarious phases of development, including concentrated solar
\nprojects in California and Spain and a photovoltaic solar
\nproject in South Africa.<\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, April 9 (Reuters) – SolarReserve, which develops large-scale concentrated solar power plants, may consider a public offering of shares later this year or in 2013, chief executive Kevin Smith said. Such a move would follow BrightSource Energy Inc’s IPO, expected this month. That company hopes to raise up to $182.5 million. “That’s something […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-9771","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=9771"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9771\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}