Wednesday, May 14, 2008

BrightSource Energy Collects $115M

Oakland-based BrightSource Energy, a developer of utility-scale solar energy projects, said today that it has raised $115M in additional Series C funding. The funding came from VantagePoint Venture Partners, Google.org, BP Alternative Energy, StatoilHydro Venture, and Black River, along with existing investors Morgan Stanley, DBL Investors (formerly a subsidiary of JP Morgan), Draper Fisher Jurvetson, and Chevron Technology Ventures. The firm said that the funding will allow it to accelerate its plans to deliver utility-grade solar power. The firm has now raised over $160M in funding. BrightSource said it is in the midst of developing solar power plants in the Mojave, with first plant construction to start in 2009. More information »