An additional $75m investment in BrightSource Energy to strengthen its position in solar power as part of its renewable offering
An additional $75m investment in BrightSource Energy to strengthen its position in solar power as part of its renewable offering
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Alstom has decided to invest $75m in BrightSource Energy, Inc. This further reinforces Alstoms partnership with BrightSource, following Alstoms $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 Energys second largest shareholder.
Alstom and BrightSource are partnering in countries, such as the Mediterranean ring and Africa, where solar conditions best suit BrightSources tower technology and where Alstom has a proven track record in engineering and construction of power plants. Alstoms expertise in steam turbine technology together with its integrated plant solutions will complement BrightSources solar technology to offer highly efficient solar thermal 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 megawatt-gross Ivanpah project is the worlds largest solar power plant under construction.
Philippe Joubert, Alstom Power President, 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 Alstoms clean power strategy to provide leading solutions spanning hydro, geothermal, wind, biomass, waste-to-energy and tidal.
Alstom's additional investment in BrightSource Energy further demonstrates the strength of our partnership. We look forward to continue developing our solar thermal power offering globally and to meeting the worlds growing demand for reliable, carbon-free energy, said John M. Woolard, CEO and President of BrightSource Energy.
Press contacts
Philippe Kasse, Stéphane Farhi (Corporate) - Tel +33 1 41 49 29 82 /33 08
Tim Brown (Alstom USA) - Tel. +1 860 713 9530
Alicia Montoya (Alstom Power) - Tel. +41 (56) 556 33 20
Investor Relations
Emmanuelle Châtelain, Juliette Langlais - Tel. + 33 1 41 49 37 38/21 36
investor.relations@chq.alstom.com