BrightSource Energy
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| Venture backed private | |
| Industry | Solar thermal power |
| Founded | 2004 |
| Founder | Arnold J. Goldman |
| Headquarters | Oakland, California, U.S. |
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Key people
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David Ramm(CEO)(Chairman) |
| Website | BrightSourceEnergy.com |
BrightSource Energy, Inc. is an Oakland, California based, corporation that designs, builds, finances, and operates utility-scale solar power plants.
Greentech Media ranked BrightSource as one of the top 10 greentech startups in the world in 2008.
BrightSource was formed with seed capital from VantagePoint Venture Partners. It secured $115 million in additional corporate funding from its Series C round of financing in May 2008. This brings the total the company has raised to date to over $160 million. Investors include Google.org, BP Alternative Energy, Morgan Stanley, DBL Investors, Draper Fisher Jurvetson, Chevron Technology Ventures, Statoil Venture, and Black River.
BrightSource Industries (Israel) Ltd., formerly named Luz II Ltd., is a wholly owned subsidiary of BrightSource Energy, Inc. Based in Israel, BrightSource Industries is responsible for solar technology development, plant design and engineering.
In March 2008, BrightSource entered into a series of power purchase agreements with Pacific Gas and Electric Company (PG&E) for up to 900 MW of electricity. BrightSource is currently developing a number of solar power plants in Southern California, with construction of the first plant planned to start in 2009.
In February 2009, BrightSource contracted to sell power from seven solar power towers in the Mojave Desert to Southern California Edison (SCE). The plants will have a combined capacity of 1,300 MW, producing 3.7 billion kilowatt-hours per year. The Ivanpah Solar Power Facility, BrightSource's 392 MW, 3,900-acre (16 km2) plant opened on February 13, 2014. The total cost of the Ivanpah project was $2.2 billion. The largest investor in the project was NRG Energy, a power generating company based in Princeton, New Jersey, that contributed $300 million. Siemens supplied instrumentation and control systems as well as steam-turbine generators.
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