Tag Archives: brightsource
CSP Big Tuna’s Team Up on Palen Solar Project
Two of the giant concentrating solar power (CSP) companies, Abengoa and BrightSource Energy have agreed to jointly develop, build and operate the 500 MW Palen Solar Power Project. BrightSource purchased the Palen project from Solar Millennium, which went bankrupt. But now the two CSP companies will work together to permit and finance the two power tower [...]
Brightsource Puts Brakes on Huge Rio Mesa CSP Project
BrightSource Energy has pulled back on one of its biggest planned projects because of extended and expensive permitting delays. The 500 megawatt (MW) Rio Mesa project - due to begin construction this year - consists of two 250 MW concentrating solar tower plants spread over 4,000 acres in Riverside County, California. When Brightsource learned that still more studies were needed after over a year of reviews, it decided Rio wouldn’t [...]
UPDATE: Ivanpah Project 75% Complete
The 377 megawatt Ivanpah Solar Energy Generating Station (SEGS) being built by BrightSource for NRG Energy has reached a significant milestone with construction now more than 75 percent complete. Since construction on this (concentrating solar power) CSP—or solar thermal—project got underway earlier this year it’s been going at a breakneck pace. By August, construction reached [...]
SolarReserve Drops Major Projects on South Africa
Last week SolarReserve and its partners, the Kensani Group Intikon Energy closed on $564 million in financing to develop two 75 megawatt photovoltaic farms. SolarReserve is one of a few companies that pursuing both giant photovoltaic and concentrating solar power projects in the U.S. and abroad. The Letsatsi Project and the Lesedi Project will be [...]
BrightSource, Alstom Win Israei Solar Thermal Plant Project
Megalim Solar Power Ltd. (“Megalim”) – a special purpose company formed by BrightSource Energy and Alstom – was informed today by Israel’s inter-ministerial Tender Committee that it won the bid for the construction of a 121 megawatt solar thermal power plant. The 121 megawatt BrightSource-Alstom Megalim plant, one of three projects selected under Israel’s Ashalim [...]
BrightSource Grabs Another $80M for CSP
BrightSource Energy, a concentrating solar thermal technology firm, just announced that it raised more than $80 million in equity financing, bringing its total equity financing to more than $615 million. The funding was led by existing investors Alstom and VantagePoint Capital Partners along with DFJ, CalSTRS, DBL Investors, Goldman Sachs, Chevron Technology Ventures and BP [...]
BrightSource Withdraws IPO
BrightSource Energy is withdrawing its upcoming IPO, citing volatile market conditions. The company set the price for the IPO just weeks ago. It was looking to raise $183 million, down from the original $250 million when it first filed. It planned to make up the difference from private investors Alstom ($75 million) and Caithness Development ($10 million). “While we [...]
Greentech IPO’s are Back!
Four greentech IPOs are seemingly going to make it through the IPO gate in spring 2012. It’s the biggest flurry of greentech IPOs in memory and serves to show the diversity of the greentech field. It’s a disparate collection of firms: Enphase, a small cap PV microinverter pioneer, BrightSource Energy, a massively ambitious concentrated solar [...]
Brightsource Sets IPO Price
Concentrating solar developer BrightSource Energy set the price range for its IPO, signaling it will happen soon. The company is looking to raise $183 million at share prices ranging from $21-$23. It will trade under the ticker, BRSE. It filed for the IPO last April with a $250 million target, but now BrightSource says it [...]