While no launch date has been announced, the plan is still to launch a washing machine sized object into space. This device will collect the suns rays and then beam the energy that is collected down to an earth station using microwaves. Then, this microwave energy will be used to provide power, like a power station.
So it quite literally is beaming energy from space. Something Arthur C Clarke had hypothesized about more than 50 years ago.
How cool!
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