BrightSource (solar thermal) Gets Big Brother in Bechtel

[kristopher]

BrightSource Gets Big Brother in Bechtel

The Engineering firm will build and help finance three power plants totaling 440 megawatts in the California desert.

One of the big questions in the solar thermal world has been how will start-up BrightSource Energy manage to finance the 2.6 gigawatts worth of power plants it has signed contracts to build.

A large part of the answer came out today when it announced that Bechtel, the grandfather of global engineering, will invest in one of the projects but also will be in charge of engineering and building it.

Bechtel said it would be an equity investor in Ivanpah Solar Electricity Generating System, which is comprised of three power plants in the Mojave Desert totaling 440 megawatts in generation capacities. Oakland, Calif.-based Brightsource has inked contracts to sell the electricity from the power plants to the Pacific Gas and Electric Co. and the Southern California Edison.

Both companies declined to disclose the financial terms of the investment.

Picking Bechtel as a contractor...

http://www.greentechmedia.com/articles/read/bechtel-to-invest-and-build-solar-thermal-project-for-brightsource-energy