Message from the CEOCEO
Following decades of unrestricted carbon dioxide emissions, the global society has come to understand, that our way of life has produced massive negative effects on the ecosystem, and more importantly the world we want to live in. Global warming is today, finally understood to be one of the greatest threats to mankind, and programs have been set up across the globe to combat the increasingly rapid temperature rise. Sadly enough, a few political country leaderships are still ignoring the massive effects of global warming, mostly in a selfish attempt to focus on present wealth, instead of the well-being also of future generations.
At Kronos Solar, we believe that there is no trade-off between present and future well-being. Instead, an abundant amount of opportunities applies to preserve the planet for our children, and to still prosper in present times.
Power production is, in this battle, next to sustainable food production, transport and heat production, the main source of CO2 emissions that need to be much improved to eventually zero emissions. Depending on its geostrategic position, countries are finding different ways to work against this objective. Across the vast majority of countries, Solar Photovoltaics (PV) has proven to be the most competitive weapon. Today, we see PV spreading at scale even across the Nordics, supported by massive system deployment cost improvements over the past decade, way greater than with any other Renewable Energy Technology, such as wind or hydro. At Kronos Solar we believe, that if the way to a greener society shall work out, then we must be able to produce Green Power at the same low cost as conventional CO2 heavy power sources can, because only then we take the wind off the wings of critics of a costly power revolution.
Kronos Solar strives to be a main driver in this race, called the race to “grid parity”. This implies amongst a set of other aspects, that we must apply economies of scale in solar power production, such that we can deliver the power at the lowest possible cost. Kronos Solar is therefore only focused on large scale power plants of many football pitches in size, because this is the way to achieve the ultimate goal at the greatest speed.
In several of the countries we do business in, we are already developing solar power plants completely subsidy free. Today, still, CO2 heavy power production sources are supported by national subsidies, and even nuclear power receives all kinds of tax and other benefits. But we can do without!
In Germany and the UK, with wholesale power prices of 5 Eurocents (per kWh) and below, Kronos Solar already today is capable to develop and realize large solar power plants that do not need a single Euro of subsidy. By applying an integrated business model, in which we do everything from initial project identification to development, financial structuring, construction and operation of the PV power plants, we are able to compress the margins of individual value steps. This puts us at the forefront of the green power revolution.
We are mindful, that there is no single silver bullet to achieve zero emissions in power production. Amongst others, we need further cost improvements in power storage (batteries) and we must much improve the power networks. But we are on the right track to do this, the green power revolution is on its way, and there is much more to come from our fantastic Kronos Solar Team. We want you to help us to make a difference!
Dr. Alexander Arcache, CEO