26 Oct '12, 2pm

The Asia Report: Brightsource and Alstom Target Australia and India with New Funding

At the same time, Brightsource raised an additional $80 million in equity financing led by Alstom and California-based venture capital company VantagePoint Capital Partners – its two biggest backers. “With these funds we will continue to build solar power plants for our U.S. customers, while significantly increasing our presence around the globe,” said John Woolard, chief executive of BrightSource in a statement. Concentrating solar power (CSP) projects have stalled in recent years because developers opted for cheaper PV installations as the price of equipment plunged. But CSP is considered essential to the world’s clean energy future since it provides heat storage and the ability to dispatch energy when required to meet peak demand. According to the International Energy Agency , solar energy, including both CSP and photovoltaics (PV) could account for 25% of global electr...

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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