Crete: 38MW Solar Electricity License Granted From Greek Regulatory Agency

ATHENS, Greece, January 20, 2011 /PRNewswire/ -- NUR-MOH SA today announced that it received a 38 megawatt (MW) Electricity Generation License for a solar power plant on the island of Crete in Greece from the Greek regulatory agency. The Crete Concentrated Solar Power (CSP) plant will be the first in Europe to feature BrightSource Energy's proprietary LPT 550 solar technology system and will produce electricity for approximately 13,000 homes and reduce carbon emissions by 35,000 tons annually. The developer Nur-MOH SA is a joint venture between Nur Energie, an independent power producer and developer active in the Mediterranean region, and Motor Oil Hellas (MOH), one of the largest corporations in Greece, and listed on the Athens Stock Exchange.

"After careful consideration, we selected BrightSource's LPT 550 energy system because of the technology's superior performance, low impact environmental design and ability to be customized to Crete's unique energy load profile," said Kevin Sara, founder and CEO of Nur Energie. "When completed, this will be the largest tower installation and the most technologically advanced CSP plant in Europe."

BrightSource Energy's proprietary LPT 550 energy system is designed to offer the industry's highest operating efficiencies and lowest capital costs. The system uses thousands of small mirrors - called heliostats - to reflect sunlight onto a boiler atop a tower to produce high temperature steam. The steam is then piped to a conventional turbine, which generates electricity. In order to conserve water, the steam is air-cooled and piped back into the system in a closed-loop, environmentally friendly process. By using a dry-cooling technology, the plant consumes approximately 95 percent less water than competing wet-cooled solar thermal technologies.

"This licensing agreement reflects growing recognition of power towers as the commercial solar thermal technology of choice for energy markets around the world," said John Woolard, president and CEO of BrightSource Energy. "We're proud to be working with Nur Energie to provide the people of Crete with highly efficient, reliable and environmentally responsible power." For Nur Energie, this is the first CSP plant to be licensed within a portfolio of solar development activities, including large scale solar power plants in North Africa.

Nur Energie Ltd is an independent solar power producer in the Mediterranean region. Since 2008, it has focused on developing projects with CSP, PV and CPV technology in five core markets- Greece, Italy, France, Morocco and Tunisia, and has a pipeline of over 100MW of PV projects and over 2210MW of CSP projects in development. Please visit http://www.nurenergie.com for more information.

Motor Oil (Hellas) has been a leader in the oil and energy market in Greece for decades. Its Refinery with its ancillary plants and offsite facilities forms the largest privately held industrial complex in Greece and is considered as one of the most advanced refineries in Europe. It is active in the Greek electricity market through its participation in the company Korinthos Power for the construction of a 437MW CCGT power plant within the refinery facilities. Motor Oil is listed on the Athens Stock Exchange. Please visit http://www.moh.gr for more information.

BrightSource Energy, Inc. provides clean, reliable and low cost solar energy for utility and industrial companies worldwide. The BrightSource Energy team combines nearly three decades of experience designing, building and operating the world's largest solar energy plants with world-class project development capabilities. The company now has contracted to sell 2610 megawatts of power to be generated using its proprietary solar thermal technology. BrightSource Energy's solar plants are designed to minimize their impact on the environment and help customers reduce their dependence on fossil fuels. Headquartered in Oakland, Calif., BrightSource Energy is a privately held company with operations in the United States, Israel, and Australia. To learn more about BrightSource Energy and solar thermal energy, visit http://www.brightsourceenergy.com.

    For BrightSource information contact:
    Kristin Hunter +1(415)281-7161
    Hill & Knowlton for BrightSource Energy
    [email protected]


    For Nur MOH information contact:
    Marleen Franke +44(0)203-102-5358
    [email protected]

SOURCE Nur MOH