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Space Solar, global leader in space-based solar power, in collaboration with Transition Labs, have announced an agreement to provide Reykjavik Energy with electricity from the first-ever space-based solar power plant.
Space Solar’s first plant, set to be operational by 2030 with an initial capacity of 30 MW, marks a groundbreaking step in the global transition to sustainable energy, with this partnership poised to accelerate the shift toward Net Zero.
Space Solar has developed a cutting-edge solar power system that will orbit Earth, harnessing solar energy and transmitting it wirelessly via safe high frequency radio waves to ground-based stations. These stations will convert the energy into electricity and feed it directly into the power grid, providing clean, renewable energy 24/7, regardless of weather or cloud cover and with electricity costs similar to intermittent renewables.
With this commercial venture, Space Solar is revolutionising the renewable energy landscape. Unlike traditional solar power plants that depend on weather conditions and daylight, Space Solar’s technology offers consistent, dispatchable power around the clock. The first plant will deliver 30 MW of energy within five years, with plans to scale up to a large-scale system by 2036, where each plant in the future can supply GigaWatts to Earth. As global energy demand rapidly increases, this capable new power technology has the potential to help position the world for a carbon-free future.