BrightSource Captures Investor Interest

On May 14, 2008, BrightSource Energy, another utility-scale solar thermal developer, announced that it has secured $115 million of fresh investment capital from Google, BP Alternative Energy, and others. Combined with funding from its original investors—VantagePoint Ventures, Morgan Stanley, Chevron Technology Ventures, and others—BrightSource now has about $160 million in investment capital. In March 2008, BrightSource announced that it has entered into a series of purchase power contracts with Pacific Gas and Electric (PG&E) for roughly 900 MW of solar energy, the largest solar power commitment ever made by a utility.

This story and the one above indicate that venture capitalists have assessed the risks and rewards of utility-scale solar facilities and have determined that it is a solid investment.


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