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Alstom buys equity stake in solar firm

French power giant broadens renewables portfolio.

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Alstom broaden their renewables portfolio.
Alstom broaden their renewables portfolio.

Alstom on Thursday announced that it has become the main shareholder in solar company BrightSource Energy. With this investment, the French power infrastructure giant hopes to increase its exposure to the growing renewable energy market.

Alstom invested US$55 into the BrightSource, as part of the company’s US$150m capital increase.

“This partnership with BrightSource is a new step in Alstom’s clean power strategy,” said Philippe Joubert, president at Alstom Power. “BrightSource’s pioneering solar tower thermal power technology complements Alstom’s renewable energy solutions, building on our strength in hydro, geothermal, wind, tidal power, biomass and waste-to-energy solutions.”

 

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