Alstom has decided to invest $75m in BrightSource Energy, Inc.
This further reinforces Alstom’s partnership with BrightSource, following Alstom’s $55 million initial investment in the company in May 2010 and the partnership agreement signed in August 2010 to provide fully integrated solar thermal power plants. This latest investment positions Alstom as BrightSource Energy’s second largest shareholder.
Alstom and BrightSource are partnering in countries, such as the Mediterranean ring and Africa, where solar conditions best suit BrightSource’s tower technology and where Alstom has a proven track record in engineering and construction of power plants. Alstom’s expertise in steam turbine technology together with its integrated plant solutions will complement BrightSource’s solar technology to offer highly efficient solar thermal power plants.
BrightSource Energy recently began construction of its Ivanpah Solar Electric Generating System (ISEGS), currently under development in San Bernardino County, California. The 392 megawatt-gross Ivanpah project is the world’s largest solar power plant under construction.
Philippe Joubert, Alstom Power President, said: “With this new investment, we continue to build our partnership with BrightSource Energy to provide highly efficient solar thermal power plants that will bring customers cost-efficient and reliable carbon-free power. This further reinforces our commitment to the solar thermal market, in line with Alstom’s clean power strategy to provide leading solutions spanning hydro, geothermal, wind, biomass, waste-to-energy and tidal”.
“Alstom’s additional investment in BrightSource Energy further demonstrates the strength of our partnership. We look forward to continue developing our solar thermal power offering globally and to meeting the world’s growing demand for reliable, carbon-free energy,” said John M. Woolard, CEO and President of BrightSource Energy.