GE Energy buys share of eSolar

GE Energy will license and incorporate eSolar technology into its Integrated Solar Combined Cycle and standalone solar thermal power plants.

Financial terms were not disclosed. Atlanta-based GE Energy said the deal should close within a month and will make it a minority shareholder in eSolar.

Burbank-based eSolar provides next-generation, tower-based concentrating solar thermal technology, which will be integrated with GE’s new FlexEfficiency 50 Combined Cycle technology to create a highly efficient and reliable ISCC plant, GE said.

Paul Browning, president and CEO of thermal products for GE Energy, said in a statement: “FlexEfficiency 50 can reach more than 61 percent thermal efficiency. With the eSolar power tower add-on, an ISCC plant provides the capability to achieve better than 70 percent fuel efficiency, while providing reliable power, day or night.”

From the Atlanta Business Chronicle.