Of course, it still suffers from the same problem that all solar sources do, namely, the low power density of sunlight. At 1 kW per square meter, it would take 1 square kilometer of a 100% conversion efficiency process, at the equator (when the sun is directly overhead) to generate 1 GW - at noon. Away from the equator, away from noon, and if your process isn't 100% efficient, it would take more land area than that to make 1 GW. That's a lot of land for only a modestly powerful power plant.
I'd bet that your average 1000 MW coal or nuclear station has a bigger footprint than 1 square km. But those darned "sun angle", "nighttime", and "cloudy day" issues...those are tough indeed to overcome.
Actually, keeping it at the equator still wouldn't maintain maximum capture. You'd have to continuously migrate it between the two tropics. /nitpick