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Alstom invests a further $75m in BrightSource Energy

31 Mar 2011

Power giant Alstom has invested an additional $75m in California, US-based project developer BrightSource Energy.

Alstom made an initial investment into BrightSource in May 2010 when it committed $55m to the developer of fully integrated solar thermal plants. With this additional funding, Alstom has become BrightSource Energy’s second largest shareholder.

The two companies are partnering in a number of regions including the Mediterranean and Africa, where conditions are optimal to BrightSource’s technology.

Alstom said its experience in the steam turbine technology sector combines well with BrightSource’s aim to develop highly-efficient solar thermal power plants.

Philippe Joubert, president of Alstom Power, said, ‘With this new investment, we continue to build our partnership with BrightSource Energy to provide highly efficient solar thermal power plants that will bring customers cost-efficient and reliable carbon-free power.

‘This further reinforces our commitment to the solar thermal market, in line with Alstom’s clean power strategy to provide leading solutions spanning hydro, geothermal, wind, biomass, waste-to-energy and tidal.’

BrightSource Energy recently began construction of its 392MW Ivanpah Solar Electric Generating System, currently under development in San Bernardino County, California.

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