Tessera Solar has received federal approval to build two massive solar power plants on public lands, but the company is struggling to find funding, according to several reports.
Tessera Solar is the developer and sister company to Stirling Energy Systems, which makes a unique style of solar thermal power unit, called the Sun Catcher. The solar thermal system uses heated gas, rather than heated liquid, to drive an electricity-producing turbine.
Tessera Solar has completed the permitting process for two projects in the U.S. southwest–one for a 709 megawatts (MW) power plant and the other for 664 MW. But the company has been unable to raise the $4 billion needed to build them.
As a result, Tessera may sell one or both of the land leases and permits. If the sites are sold, they are likely to be developed with different technologies than the Sun Catcher system, which could leave the technology untested on a large scale, threatening the company’s future viability.
Irish infrastructure group NTR is the parent company of Tessera and Stirling Energy.
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