BrightSource raises $80m of finance, deepens Alstom ties

Solar thermal power specialist BrightSource Energy has raised $80m in equity investments, bringing total financing in hand to more than $615m for future growth initiatives, the company says.

French power giant Alstom and VantagePoint Capital Partners led the round. Additional investors include DFJ, CalSTRS, DBL Investors, Goldman Sachs, Chevron Technology Ventures and BP Ventures, among others.

As part of the financing round, BrightSource, based in Oakland, California, and Alstom have expanded geographic partnerships to build solar thermal power plants in India and Australia. In October 2010, the companies announced they would work together in countries bordering the Mediterranean and in Africa.

They are also collaborating on a series of solar research and development activities focused on thermal storage and Log in to read complete article.

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