CONCENTRATED SOLAR POWER MARKET ANALYSIS

Market News

Key Developments

• In June 2021, ACWA, made an off take agreement with Eskom Holdings SOC Ltd and obtained funding for the construction of the largest concentrated solar power plant in South Africa totaling about USD 800 million. Redstone CSP is anticipated to begin commercial operations in the fourth quarter of 2023 and is planned to have a 100 MW generation capacity. The CSP plant will have a 12-hour thermal energy storage system so that it can supply electricity to almost 200,000 homes around-the-clock.
• In April 2019, Bright Source Energy partnered with General Electric for the ASHALIM project, a solar field with a 121 MW capacity that started operating in 2019. The solar power plant's engineering, procurement, and construction (EPC) was handled by GE, and Bright Source supplied the cutting-edge solar field technology.
• In February 2019, Aalborg CSP signed an agreement with Shanghai Electric Group, will provide no-leaks steam generation systems for the 700 MW CSP project in Dubai.
• In January 2022, Abengoa, phase IV of the Mohammed bin Rashid Al Maktoum Solar Park mega-project outside of Dubai has finished building three 200 MW parabolic trough plants. The business oversaw the technology, design, engineering, and construction of the parabolic trough plants while working under a contract with the phase IV EPC contractor Shanghai Electric Group.