Solar thermal project heats up
Ivanpah is said to be the world‘s largest solar project under construction, and when completed in 2013, it will nearly double the amount of solar thermal electricity produced in the U.S.
BrightSource finalized $1.6 billion in loans guaranteed by the U.S. Department of Energy‘s Loan Programs Office. The company also announced that Google will join NRG Solar LLC and BrightSource as an equity investor in the project by making a $168 million investment.
In 2010, NRG Solar announced its commitment to invest up to $300 million to become the lead investor in the project. BrightSource‘s engineering partner is Bechtel.
The Ivanpah project is located on approximately 3,500 acres of federal land managed by the U.S. Department of the Interior‘s Bureau of Land Management. The project is a 392
gross-megawatt solar power facility consisting of three separate solar thermal power plants. When constructed, the project will produce enough clean energy to power 140,000 homes.
Headquartered in Oakland, Calif., BrightSource Energy has several investors, such VantagePoint Capital Partners, Alstom, Google.org, Morgan Stanley, Chevron Technology Ventures, Draper Fisher Jurvetson, DBL Investors, CalSTRS, BP Alternative Energy and StatoilHydro Venture, among others.
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