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Post date: Feb 27, 2010 12:34:21 PM
source: reuters.com | brightsourceenergy.com
Construction on the first Ivanpah plant is expected to begin 2010, with commercial operations beginning in 2012. All three plants are expected be on line by 2014.
Loan Guarantee
The loan guarantee is conditioned on BrightSource meeting financial and environmental requirements, including local, state and federal regulatory approvals. BrightSource has run into trouble from environmental groups who are concerned that the construction would harm desert plants and wildlife, including the desert tortoise.
TO RAISE EQUITY FINANCING
The company, which counts search giant Google and Silicon Valley fund VantagePoint Venture Partners among its investors, already has contracts to deliver more than 2,600 megawatts of power to California utilities PG&E Corp (PG&E) and Edison International's Southern California Edison (SCE).PG&E will purchase approximately two-thirds of the power generated at Ivanpah and SCE will purchase approximately one-third.
400 MW, 3 Solar Plants aggregated
The Ivanpah power plant consists of 3 separate Solar
thermal power plants generating 400 MW for 140 000 homes
doubling the solar thermal energy produced in the U.S. today.
BrightSource Energy is a privately held company
with operations in the U.S., Israel, and Australia.
Ivanapah Solar Electric Generating System
Clean energy Investment to create 1000 jobs
brightsourceenergy.com
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