Capital One invests in 110 MW Crescent Dunes CSP project

SolarReserve has announced that a unit of Capital One Financial Corporation has decided to make a tax equity investment of €73.2 million (US$78.2 million) in the 110 MW Crescent Dunes concentrated solar power (CSP) project located in Nevada, USA.

The plant is the first utility-scale facility in the world to feature advanced molten salt power tower energy storage capabilities. It delivers enough electricity to power 75,000 homes in Nevada during peak demand periods.

The project will be the only operating utility scale molten salt power tower on the planet.

The plant started commercial operation in November 2015. The energy produced by the plant is being sold through a 25-year power purchase agreement (PPA) with NV Energy.