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Goldman Sachs energy unit to build world’s largest CPV solar plant

Amonix CPV technology, as used at this facility in Nevada, uses optics to concentrate sunlight on super-efficient solar cells

Power developer and generator Cogentrix Energy has signed a deal to build a 30-megawatt solar power plant near Alamosa, in southern Colorado.

The plant is expected to be the largest facility of its type in the world, using concentrated photovoltaic systems (CPV) provided by California firm Amonix.

North Carolina-based Cogentrix, owned by controversial finance house Goldman Sachs, has agreed to develop the project to supply power to the utility Public Service Company of Colorado, part of Xcel Energy.

Completion is expected to be in the second quarter of 2012, with the project helping PSCo to meet its Colorado state renewable energy targets through a 20-year power purchase agreement.

Tom Imbler, Xcel Energy vice president, commercial operations, said: “Photovoltaic and solar generation have a better match to our peak load than does other intermittent renewables like wind.”

“Contracting for this solar installation in the San Luis Valley is another step in our continued commitment to add solar to Xcel Energy’s renewable portfolio in Colorado,” Mr Imbler added.

Technology

Amonix CPV technology involves the use of lenses to focus light on small multi-junction solar cells.

Because the optics concentrate the sunlight up to 500 times the strength of normal sunlight, a solar panel needs much less semiconductor material to generate power, while multi-junction solar cells – cells using different photovoltaic materials to capture a wider range of light frequencies – can achieve conversion efficiencies up to 39%.

The Amonix system also uses a dual-axis tracking system so that solar panels can follow the sun across the sky.

Cleaner and more sustainable electric power generation is going to become a larger component of the nation’s energy mix” - Robert Mancini – Goldman Sachs

The Alamosa plant is expected to produce enough electricity to supply around 6,500 homes with green power, located on 225 acres of land in the San Luis Valley.

Cogentrix, a coal and gas plant operator which has 300MW of renewable energy projects in development, has already finalized local permits for the Alamosa project, and is now working to secure finance for the work.

Construction is expected to begin in the first quarter of 2011.

Robert Mancini, CEO of Cogentrix and a Managing Director of Goldman Sachs, said: “It has become apparent that cleaner and more sustainable electric power generation is going to become a larger component of the nation’s energy mix and Cogentrix is excited to be at the forefront of this evolution.”