Or as Greentech put it:
This is going to have to be a big financial exit if investors are to be kept happy.
Here's the story:BrightSource Energy of Oakland, Calif. has raised $201 million in a Round E bringing its total funding to more than $530 million in private equity. That funding is in addition to a federal loan guarantee of $1.3 billlion. The investors include Alstom, a French power plant player as well as the usual suspects -- Vantage Point Venture Partners, Alstom, CalSTRS, DFJ, DBL Investors, Chevron Technology Ventures, and BP Technology Ventures, together with new investors.See akso:
The SEC filing dated today is here.
BrightSource is building one of the world’s largest solar power plants (solar thermal, not photovoltaic) in San Bernardino County, California -- the Ivanpah project. According to an article written late last year by GTM Research Solar analyst Brett Prior, NRG Solar signed a letter of intent to partner with BrightSource to construct, finance, own and operate the 392-MW Ivanpah plant. NRG will become the lead investor, although Bechtel (the EPC firm) will also be an equity investor....MORE
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