French power generator Alstom (ALO.PA) has decided to invest an additional $75 million in concentrating solar power (CSP) company 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 behind NRG Energy (NYSE: NRG).
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.
BrightSource Energy recently began construction of its Ivanpah Solar Electric Generating System (ISEGS), currently under development in San Bernardino County, California. The 392 MW Ivanpah project is the world's largest solar power plant under construction.
BrightSource is expected to complete an IPO later this year.
