This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Ivanpah First Sync (Photo: Business Wire)

Stocks in this article: NRG

NRG Energy, Inc. (NYSE:NRG), through its wholly owned subsidiary NRG Solar, today announced that the Ivanpah Solar Electric Generating System produced its first output of energy when the Unit 1 station was synced to the power grid for the first time. Achieving this critical “first sync” is a major milestone for the project.

Ivanpah First Sync (Photo: Business Wire)

Ivanpah First Sync (Photo: Business Wire)

This successful test demonstrates the effectiveness of the station’s power tower technology, which includes large heliostats that track the sun throughout the day, solar field integration software and a solar receiver steam generator.

“Given the magnitude and complexity of Ivanpah, it was very important that we successfully complete this milestone showing all systems were on track,” said Tom Doyle, President of NRG Solar. “We couldn’t be more excited about achieving ‘first sync,’ and we share this success with our project partners, BrightSource and Google, as well as Bechtel, which is responsible for engineering, procurement, construction and commissioning on the project.”

Power generated from Ivanpah’s initial sync testing will go to Pacific Gas and Electric (PG&E), which has a power purchase agreement (PPA) for energy produced out of the plant’s Unit 1 station. Power generated from Ivanpah’s Unit 3 station is also sold under a PPA with PG&E, while Unit 2 is under a PPA with Southern California Edison. Proof-of-concept testing will also be conducted at Unit 2 and 3 in the coming months.

“This is yet another major milestone that we have successfully achieved as Ivanpah approaches completion,” said David Ramm, Executive Chairman of BrightSource Energy, Inc. “Ivanpah is the showcase project for BrightSource’s power tower technology and technical expertise. Validation at this scale demonstrates the viability of our technology as BrightSource increases focus on international markets and applications for concentrating solar power.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs