Thursday, March 31, 2011

"BrightSource Raises Another $201M for Solar Thermal"

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. 

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
 See akso:
Solar: "Robert Kennedy on Being Subversive"