The round included existing investors Vantage Point Venture Partners, Alstom, CalSTRS, Draper Fisher Jurvetson, DBL Investors, Chevron Technology Ventures, and BP Technology Ventures, together with new investors.
BrightSource currently has solar power contracts for 1,310 megawatts with Pacific Gas and Electric Company (PG&E) and 1,300 megawatts with Southern California Edison. To meet its 2,610 megawatts in contracts, the company plans to build up to 14 solar power plants in the US southwest. Internationally, BrightSource is partnering with Alstom to provide solar thermal power plants to markets in the Mediterranean ring and Africa.
In October 2010, BrightSource commenced construction on the Ivanpah project, a 392 megawatt-gross solar thermal power plant in California’s Mojave Desert. Ivanpah includes the first three plants of the fourteen plants that BrightSource intends to develop to meet its existing power purchase agreements with California utility customers. Once constructed, Ivanpah will nearly double the amount of commercial solar thermal electricity produced in the US today.
About BrightSource Energy, Inc.