By Joydeep Guptam, IANS
Bali : Representatives of UN member countries and international organisations who have gathered here for the UN Climate Change Conference are talking of promoting renewable energy sources but no one is ready to fund the world’s largest solar power project, says the project’s developer.
South African power major Eskom has planned a 100 MW solar power plant in Upington at the Northern Cape Province. It is 10 times the size of current solar power plants and uses a new but proven technology.
But no investor wants to put up the $750 million needed for the project, says Eskom’s Managing Director (corporate services) Steve Lennon.
Almost all solar power is now generated through photovoltaic cells, with the largest being a 10 MW plant.
Using a different route, this new technology concentrates the sun’s rays through a parabolic mirror. The heat gathered at the focal point is used to melt salt. This molten salt then drives a conventional turbine, said Lennon.
Compared to current fossil fuel power generators, $750 million investment for a 100 MW power plant is high, almost the same as a nuclear plant.
“If the first plant works well, the investment will immediately come down to two-thirds for the second one,” Lennon told IANS.
At the Dec 3-14 Bali summit, being attended by nearly 11,000 delegates from 187 nations, Lennon has been making efforts to find someone who is willing to put his money where his mouth is. He has found no one so far.