The company currently has a Memorandum of Understanding with NV Energy for development and construction of one or two, 242MW concentrated solar power (CSP) plants to be located 90 miles northwest of Las Vegas.

The decision to employ dry-cooling technology follows extensive due diligence that took into account unique environmental and ecological considerations including wetlands and wildlife habitats, water conservation and land usage, and state and federal government renewable energy initiatives and policies. Following a series of local public hearings and ongoing discussions with regulatory authorities and environmental groups, it was determined that dry-cooling was in the best interests of the Amargosa Valley community and its economic development plans.

According to Solar Trust of America Chairman and Chief Executive Officer Uwe T. Schmidt, dry-cooling technology requires significantly less water usage that conventional wet-cooling systems with no carbon emissions. "Our dry-cooled solar thermal power plants will use 90 percent less water than originally projected, thus conserving and protecting our limited natural resources while ensuring a carbon-free energy source for generations to come," said Schmidt. "Combined with our financing, development and construction expertise in building utility-size power plants around the world, we will create much-needed job opportunities and contribute to the solar power industry's growth potential in the Amargosa Valley."

Josef Eichhammer, President of Solar Trust of America, LLC and Chief Executive Officer of Solar Millennium LLC, noted the extensive dialogue that has gone into the development of the Amargosa Valley project. "Solar Millennium has been an active and responsible corporate citizen in Nevada for many years and has worked closely with all stakeholders to address their concerns and arrive at a solution that works for all parties.