Pennington, New Jersey [RenewableEnergyAccess.com] Grupo Ibereolica signed a pre-sale agreement yesterday with Clean Hydrogen Producers (CHP) of Geneva, Switzerland granting Ibereolica an exclusive license to promote, install and manage solar energy plants in Spain and Mexico, using the CHP Solar Water Cracker, for a period of 20 years.
CHP’s technology uses solar energy to crack the water molecule into hydrogen and oxygen, for a much higher energy conversion rate from solar into electricity. The system is efficient, modular and allows storage of energy for later release.
In Mexico, where Ibereolica has a 100 megawatt (MW) wind energy project under permitting, the reduced installation cost of CHP’s technology will allow the company to enter the solar energy arena, and solicit and build numerous solar projects.
David Gomez, CEO of Grupo Ibereolica, said, “we believe that CHP’s technology, if successfully developed, could represent a very big milestone for renewable energies. It combines the cost efficiency of wind farms with the advantage of being both predictable and adjustable thanks to hydrogen storage.”
“Certifying a prototype with CHP could reduce Ibereolica’s project installation costs by a factor of three, and enable us to comfortably surpass 1,000 MW installed capacity,” added Gomez. “We are happy to have the license for Spain, a leading country in renewable energy. This combined with Spain’s privileged solar radiation makes for a very promising business opportunity.”