Contact Information: Press Contact: Michael Azzano Cosmo PR for GreenVolts 415/596-1978
GreenVolts to Deliver Wholesale Distributed Energy to Pacific Gas & Electric Company
GreenVolts to Build Two-Megawatt Solar Electric Power Plant; Company's Concentrator Technology Boasts Superior Efficiency
| Source: GreenVolts
SAN FRANCISCO, CA--(Marketwire - June 27, 2007) - GreenVolts (www.greenvolts.com), a leader
in high concentration photovoltaic technology and wholesale distributed
energy, today announced that it has signed an agreement to deliver a
two-megawatt solar electric power plant for Pacific Gas & Electric Company
starting in 2008. When completed, GV1 will be the largest concentrator
photovoltaic project in the world.
The company's advanced concentrator technology can deliver nearly twice the
amount of energy for every dollar spent and its flexible system design
allows this energy to be delivered anywhere along the grid -- saving time
and money for utility customers. The company's complete systems approach
reduces both the initial infrastructure cost and, even more importantly,
the levelized cost of energy over time.
"GreenVolts' concentrator technology makes the sun a realistic and
economical source of renewable energy for utility companies and their
customers," said Bob Cart, founder and CEO of GreenVolts, Inc. "By
emphasizing efficiency and flexibility, GreenVolts can rapidly deploy solar
power plants that deliver more energy per dollar than conventional
technology, but with a smaller footprint and that can be located anywhere
along the grid -- saving utilities more time and money."
GreenVolts' patent-pending high concentration photovoltaic system
concentrates 625 suns of energy onto a highly efficient solar cell and can
deliver energy at a competitive cost. The size and flexibility of the
company's system allow it to be placed nearer to the demand than other
alternatives, helping utility companies avoid constructing costly
transmission lines or having to upgrade existing power grids.
"This project provides PG&E with a clean, reliable, and cost efficient way
to deliver additional solar power to our customers," said Fong Wan, vice
president of Energy Procurement, PG&E. "By harnessing the power of the
sun's rays in a scalable way, we are taking a significant step towards
reaching California's renewable portfolio goal of supplying twenty percent
of our customer needs with qualifying renewable energy by 2010."
The core of the GreenVolts' solution is a 3kW low profile platform known as
a CarouSol that tracks the sun as it moves across the sky. The technology
uses less than one-thousandth of the solar cell material of conventional
solar panels, and the entire system is optimized for the lowest cost of
energy.
GreenVolts will construct its two-megawatt solar plant for Pacific Gas &
Electric outside of Tracy, California in two phases, with the first phase
completed by fall of 2008 and the second a year later.
About GreenVolts
GreenVolts is a solar power company that supplies massive amounts of
efficient energy to utility companies so that they can provide green energy
to their end customers economically and with only a flick of the switch.
Solar power is the best possible utility-scale solution because it can be
forecast with reliability and because it shines brightest when it's needed
most -- during the daytime peak hours. GreenVolts' HCPV technology is more
efficient than any other photovoltaic solutions on the market and its
ability to be located near to the load makes it more desirable than other
solar technologies because it eliminates the need for utility grid
upgrades. The company is based in San Francisco.