BrightSource Energy raises additional US$ 150 million

<b>BrightSource develops tower based CSP power plants.</b><br><br><i>Photo: BrightSource </i><br>
BrightSource develops tower based CSP power plants.

Photo: BrightSource

New investors including Alstom (US$ 55 million) and the California State Teachers Retirement Systems joined existing investors like VantagePoint Venture Partners, Morgan Stanley and Draper Fisher Jurvetson. The financing will be used to support BrightSource’s 2,610 MW in contracts with the California based utilities Pacific Gas and Electric Company (PG&E) and Southern California Edison by 2016. Altogether 14 power plants are to be built in the southwest of the US. BrightSource develops and builds tower based CSP plants. Already in February the company was able to secure loan guarantees of US$ 1.37 billion for the 400 MW Ivanpah power plant in Southern California.

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