BrightSource Energy, the California solar power plant builder backed by Google, Morgan Stanley and Silicon Valley venture capitalists, filed for a $250 million initial public offering on Friday. The Earth Day S-1 filing marks first big market test of investors' appetite for a capital-intensive solar technology that has yet to be deployed commercially. It comes as utilities have been turning to increasingly cost-competitive photovoltaic farms to meet their renewable energy mandates. BrightSource was founded in 2004 by American-Israeli pioneer Arnold Goldman, whose Luz International built nine solar thermal power plants in the Mojave Desert in the 1980s and 1990s. The company has attracted blue-chip investors, including French energy giant Alstom, as well as a $1.6 billion federal loan guarantee that is financing the bulk of Ivanpah's construction costs. NRG Solar, a subsidiary of NRG Energy, is investing up to $300 million in Ivanpah and Google last week invested $168 million in the project. In its filing, BrightSource, which has signed deals to supply utilities Pacific Gas & Electric and Southern California Edison with 2,600 megawatts of electricity, disclosed that it controls 110,000 acres in California and the Southwest. That land has a capacity to generate 11,000 megawatts - enough solar electricity to supply nearly 15 million homes at peak output. The cost of maintaining leases on those lands stands at $12.9 million, according to the filing, and BrightSource, which has lost a cumulative $177.3 million since its founding, has total debt and contractual obligations totaling $1.8 billion. Despite its impressive pipeline of projects and prominent investors, BrightSource acknowledged in the filing that its viability turns on the completion and operation of Ivanpah, which will deploy 170,000 heliostats around three towers.
The schedule is available online at www.solar-ema.org/2011-conference.html for SEMA's upcoming Technical Conference and Exhibition, which is scheduled to take place May 24-26, 2011 at the Wyndham Hotel in San Jose, CA.
Dynamic leader in solar photovoltaic arena and global provider of high-quality asset-based financing products partner to offer extended terms program to MAGE SOLAR partners.
Trade Show Executive Magazine Bestows Award
SGS is pleased to announce that it will be participating in the POWER-GEN India & Central Asia 2011 in Pragati Maiden, New Delhi, India from May 5-7, 2011. Throughout the entire event, SGS will present a wide range of the services it offers to the power and nuclear industry at stand no. 1250A in Hall 12A.
The U.S. Department of Energy is offering $2.1 billion in conditional loan guarantees to support what will be the world's biggest solar power plant, the government's largest commitment to date for to solar energy. The aid will support construction of the first two units of Solar Trust of America LLC's 1,000 megawatt solar thermal Blythe Solar Power Project, the DOE said on Monday. Solar Trust of America is a joint venture between German companies Solar Millennium AG and Ferrostaal AG. "For the first time in mankind's history, a solar power facility will be built at a scale and output capacity equal to the very largest coal-fired and nuclear power plants operating in the world today," Solar Trust of America Chief Executive Uwe Schmidt said on a conference call with reporters. The first two units of the project near Blythe, California are capable of producing 484 MW of electricity using solar thermal trough technology. The project will create over 1,000 construction jobs, 80 operations jobs, and will avoid greenhouse gas emissions equivalent to those generated by about 123,000 vehicles. Solar Millennium's technology makes electricity by using trough-shaped mirrors to heat a fluid that generates steam that turns a turbine. The Blythe project's total pricetag is estimated at north of $6 billion, with the first phase costing about $2.8 billion. The announcement came a week after the federal program to support clean energy technologies escaped the axe in the final U.S. budget agreement for the current fiscal year.
SPG Solar FloatovoltaicsR Goes Beyond Renewable Energy, Delivering A Solution for Water Conservation
REHAU will recognize the leaders of tomorrow's sustainable solutions innovation at the REHAU/Sustainable Loudoun Energy & Environmental Sustainability Awards ceremony on Wednesday, April 27, 2011, from 5-7 pm at the company's North American headquarters in Leesburg, Va.
The Energy Lectures 2011, which takes place at Birmingham's National Motorcycle Museum on 4-5 May 2011, can now confirm an exciting programme of presentations by influential energy experts from the UK and across Europe.
Experienced sales and business development professional joins to accelerate channel partner program and national expansion.
Eco-story, a leader in LED lighting solutions, today announced that its products are now available on Lighting Universe, one of the leading online retailers in the country.
Ultrasonic Systems, Inc. (USI) announces the addition of Michael P. Kiley as Engineer. Mr. Kiley brings more than 30 years of experience specializing in the design of products and engineering systems to support manufacturing.
Silicon Valley's Annual Entrepreneur Awards Program Announces Technology Start-Up Finalists
Training sessions are held for solar professionals in Harare.
First Solar Infrastructure Company to Secure Both ISO 9001:2008 QMS and ISO 14001:2004 EMS Certifications
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