Alstom increases BrightSource Energy holding
Deal boosts power firm's share in solar specialist
Alstom has announced that it has boosted its shareholding in BrightSource Energy, with an additional US $40 million investment that takes its shareholding in the solar firm to over 20%. The firm has been progressively increasing its stake in the US-based solar company since its initial investment in 2010.
BrighSource Energy specialises in concentrated solar thermal tower technology, with projects underway including the world’s largest solar thermal project – Ivanpah Solar Electric Generating System – in San Bernardino County, California.
“Strengthening our partnership with BrightSource Energy enhances our joint development towards providing fully integrated solar thermal power plants. We strongly believe in the development and future competiveness of the solar tower technology. This new investment reinforces solar thermal power’s position at the heart of Alstom’s strategy which is to provide leading sustainable renewable power solutions also spanning hydro, wind, geothermal, ocean and biomass,” said Alstom Renewable Power president Jerome Pecresse.
BrightSource CEO John Woolard added: “Alstom’s additional investment in BrightSource reflects the important role of our solar thermal power tower technology in meeting the world’s growing demand for cost-effective power that is not only clean, but reliable as well.”