BrightSource Energy

File:Brightsource Energy solar plant aerial view, 2023.jpg

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, bringing the total the company has raised at that time 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.{{cite web|url=http://www.brightsourceenergy.com/Release5-14-08.pdf |title=BrightSource Energy Exceeds $115 million in Latest Round of Funding |access-date=2008-06-11 |date=2008-05-14 |publisher=BrightSource Energy |url-status=dead |archive-url=https://web.archive.org/web/20080703181624/http://www.brightsourceenergy.com/Release5-14-08.pdf |archive-date=July 3, 2008 }} By May 2010, the total amount raised was $337 million.{{cite web | title = BrightSource Energy | url = https://pitchbook.com/profiles/company/45284-86 | work = pitchbook | access-date = 13 June 2019}}

BrightSource Industries (Israel) Ltd., formerly named Luz II Ltd.,{{cite web|url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=44497818|archive-url=https://web.archive.org/web/20090218102146/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=44497818|url-status=live|archive-date=February 18, 2009|title=Stocks|website=Bloomberg.com|access-date=18 July 2018}} 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.{{Cite web | url=http://news.cnet.com/8301-11128_3-9907089-54.html | title=BrightSource Energy signs whopper solar contract with PG&E | access-date=2008-06-11 | date=2008-03-31 | publisher= CNET News}} In February 2009, BrightSource contracted to sell power from seven solar power towers in the Mojave Desert to Southern California Edison (SCE). The plants were to have a combined capacity of 1,300 MW, producing 3.7 billion kilowatt-hours per year. The Ivanpah Solar Power Facility, BrightSource's 377 MW, {{convert|3900|acre|km2|adj=on}} plant opened on February 13, 2014.{{cite news

| url= https://www.nytimes.com/2009/02/12/science/earth/12solar.html?ref=science

| title= California Utility Looks to Mojave Desert Project for Solar Power

| last= Revkin | first= Andrew C. |author-link= Andrew C. Revkin

| date= February 11, 2009 | work= The New York Times

| access-date= 2009-02-12 }}

{{cite web

| url= http://www.edison.com/pressroom/pr.asp?bu=&year=0&id=7174

| title= Agreement for 1,300 Megawatts of Clean and Reliable Solar Thermal Power

| date= February 11, 2009

| publisher= Southern California Edison (SCE)

| access-date= 2009-02-12

| url-status= dead

| archive-url= https://web.archive.org/web/20090213142632/http://www.edison.com/pressroom/pr.asp?bu=&year=0&id=7174

| archive-date= February 13, 2009

}}

{{cite web

| url= http://www.edison.com/files/solarFAQs.pdf

| title= BrightSource Energy and Southern California Edison (SCE) Power Purchasing Agreement FAQs

| publisher= BrightSource & SCE

| access-date= 2009-02-12

| url-status= dead

| archive-url= https://web.archive.org/web/20110710171401/http://www.edison.com/files/solarFAQs.pdf

| archive-date= 2011-07-10

}}

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.

In 2009, BrightSource Energy announced plans to build a {{convert|960|MW|abbr=on|lk=on}} solar thermal power plant in Coyote Springs that would be on line by 2012.{{cite news |first=Stephanie|last= Tavares |title=Vision for desert solar power plant expands |url=http://www.lasvegassun.com/news/2009/sep/23/vision-desert-solar-power-plant-expands/ |newspaper=Las Vegas Sun |date=December 23, 2009|access-date=December 23, 2009}} In 2010, BrightSource hired Morgan Stanley and Goldman Sachs to begin preparations for a public offering in 2011. Its fourth round of equity financing in May netted $150 million, bringing total equity financing to $330 million to date.By Iris Kuo, VentureBeat. "[https://venturebeat.com/2010/09/22/brightsource-quietly-moving-towards-ipo-in-2011/ Brightsource quietly moving towards IPO in 2011]." Access date September 22, 2010.

In November 2011, Google announced that they would stop investing in CSP projects due to the rapid price decline of photovoltaics. Google spent $168 million on BrightSource.[http://www.evwind.es/noticias.php?id_not=14860 Google cans concentrated solar power project] Reve, 24 Nov 2011. Accessed: 25 Nov 2011.{{cite web |url=https://www.bloomberg.com/news/print/2011-12-20/bp-to-shut-down-solar-power-unit-exit-business-spokesman-says.html |title=BP Deems Solar Unprofitable, Exiting Business After 40 Years |author=Marc Roca and Ehren Goossens |date=Dec 20, 2011 |work=Bloomberg }} In December 2011, Google and KKR & Co. announced an agreement to invest in four California solar power PV plants with total capacity of 88 megawatts.{{cite web | url = https://ir.kkr.com/news-releases/news-release-details/google-kkr-partner-acquire-portfolio-solar-pv-projects/ | title = Google & KKR Partner to Acquire Portfolio of Solar PV Projects in California from Recurrent Energy | work = KKR | access-date = 13 June 2019}}

In December 2011, The California Energy Commission (CEC) began to review a proposed 750 MW Rio Mesa Solar Project in Riverside County, California. BrightSource Energy Inc. is the developer for this project.States News Service, Power Engineering. "[http://www.power-eng.com/news/2011/12/1563560275/energy-commission-begins-review-for-rio-mesa-solar-electric-generating-facility.html ENERGY COMMISSION BEGINS REVIEW FOR RIO MESA SOLAR ELECTRIC GENERATING FACILITY]." 12/15/2011. Retrieved 12/16/2011.California Energy Commission, SolarServer. "[http://www.solarserver.com/solar-magazine/solar-news/current/2011/kw50/concentrating-solar-power-cec-to-begin-review-of-750-mw-rio-mesa-project.html Concentrating solar power: CEC to begin review of 750 MW Rio Mesa project] {{webarchive |url=https://web.archive.org/web/20120617081948/http://www.solarserver.com/solar-magazine/solar-news/current/2011/kw50/concentrating-solar-power-cec-to-begin-review-of-750-mw-rio-mesa-project.html |date=June 17, 2012 }}." 12/15/2011. Retrieved 12/16/2011.

The project was cancelled in 2013.{{cite news |title=Another Large Solar Power Project Canceled in California |first=Chris |last=Clarke |date=July 3, 2013 |access-date=June 12, 2019|work=ReWire |publisher= KCET |url=https://www.kcet.org/redefine/another-large-solar-power-project-canceled-in-california}}

In 2012, BrightSource Energy proposed to build the Hidden Hills Solar Electric Generating System Project near Charleston View, California.{{cite web |title=Hidden Hills Solar Electric Generating System |publisher=basinandrangewatch.org |url=http://basinandrangewatch.org/HiddenHills.html |access-date=August 15, 2021}} The project was withdrawn in 2015{{cite web |title=Hidden Hills Solar Electric Generating System |publisher=California Energy Commission |url=https://ww2.energy.ca.gov/sitingcases/hiddenhills/ |archive-url=https://web.archive.org/web/20201121145517/https://ww2.energy.ca.gov/sitingcases/hiddenhills/ |archive-date=November 21, 2020}} due to concerns over the effects on wildlife, groundwater, cultural and historical resources in the area along with "lackluster updates" by BrightSource. In addition, then recent Inyo County planning policy changes would prevent large solar thermal plants being built in the county.{{cite news |title=Agency Staff Urge End to Desert Solar Project |first=Chris |last=Clarke |date=April 17, 2015 |publisher=KCET |url=https://www.kcet.org/redefine/agency-staff-urge-end-to-desert-solar-project |access-date=August 15, 2021}}{{cite news |title=Company To Withdraw Proposed Solar Tower Project in Inyo County |first=Chris |last=Clarke |date=May 29, 2015 |url=https://www.kcet.org/redefine/company-to-withdraw-proposed-solar-tower-project-in-inyo-county |access-date=August 15, 2021}}

In September 2014, BrightSource ended its upcoming California projects, withdrawing its application for a solar thermal power plant at Palen, near Riverside. Biologists, Native American groups, and advocates for Joshua Tree National Park were concerned that the bright light and heat of the Palen project's heliostats would prove fatal for birds. The company shifted its focus to overseas projects.{{Cite news

| last = Hull

| first = Dana

| title = BrightSource Energy looks abroad

| work = San Jose Mercury News

| access-date = 2014-12-07

| date = 2014-09-30

| url = http://www.mercurynews.com/business/ci_26636191/brightsource-energy-looks-abroad

}} In November 2014, Bright Source announced a joint venture with Shanghai Electric to build "utility scale solar thermal projects," and proposed the "construction of two 135 megawatt (MW) CSP plants as part of the Qinghai Delingha Solar Thermal Power Generation Project."{{Cite news

| last = Hull

| first = Dana

| title = BrightSource's China deal — with storage!

| work = SiliconBeat

| access-date = 2014-12-07

| date = 2014-11-10

| url = http://www.siliconbeat.com/2014/11/10/brightsources-china-deal-with-storage/

}}

In March 2016, it was confirmed that BrightSource is supplying technology to Ashalim Power Station in the Negev Desert of Israel.{{cite web | title = BrightSource Launches Next Generation Solar Field Technologies | work = businesswire.com | url = https://www.businesswire.com/news/home/20160321006064/en/BrightSource-Launches-Generation-Solar-Field-Technologies | access-date = 12 June 2019}}

In September 2016, BrightSource signed a deal to sell its Ivanpah solar farm technology to a Chinese project owned by a state-run energy company.{{cite web | first = Katie | last = Fehrenbacher | work = Fortune | url = http://fortune.com/2016/09/27/china-solar-mirrors-brightsource/ | title = China to Build Solar Mirror Farm Using Oakland Company's Technology | date = September 27, 2016 | access-date = April 27, 2017}}

Arnold Goldman, the founder of BrightSource, died in 2017.{{cite news |title=Israeli-American energy-tech pioneer Arnold Goldman dies |first=Yedidya |last=Sinclair |date=June 2, 2017 |publisher=The Jerusalem Post |url=https://www.jpost.com/israel-news/israeli-american-energy-tech-pioneer-arnold-goldman-dies-494586 |access-date=August 15, 2021}}

In 2020 it was reported that the main telephone number of BrightSource was directed to voicemail and that the most recent announcement on the website was from 2017.{{cite web |title=America’s Concentrated Solar Power Companies Have All but Disappeared |first=Jason |last=Deign |date=January 20, 2020 |publisher=Greentech Media |url=https://www.greentechmedia.com/articles/read/americas-concentrated-solar-power-companies-have-all-but-disappeared |access-date=August 15, 2021}}

• Concentrating solar power
• Solar power tower
• Solar thermal energy
• List of concentrating solar thermal power companies
• List of energy storage projects
• List of solar thermal power stations

{{Reflist}}

• [http://www.greenprophet.com/2010/10/luz-rises-again-as-brightsource-for-california-solar/ BrightSource Rises from Luz]

• {{Official website|http://www.brightsourceenergy.com}}

{{Solar power in the United States}}

{{DEFAULTSORT:Brightsource Energy}}

Category:Solar energy companies

Category:Solar energy companies of Israel

Category:Energy companies of the United States

Category:Manufacturing companies based in Oakland, California

Category:Technology companies based in the San Francisco Bay Area