Alstom Takes Bright Source Stake

20 May 2010 (Last Updated May 20th, 2010 18:30)

Alstom has announced its foray into the high-growth solar market with an equity stake in Bright Source Energy. Alstom will be investing up to $55m in BrightSource Energy with an equity stake that positions Alstom as one of the main shareholders in the company. Bright Source s

Alstom has announced its foray into the high-growth solar market with an equity stake in Bright Source Energy.

Alstom will be investing up to $55m in BrightSource Energy with an equity stake that positions Alstom as one of the main shareholders in the company.

Bright Source specialises in designing, building and operating tower-based solar thermal power plants with operations in the US, Israel and Australia.

The firm employs a technology that uses thousands of mirrors to reflect sunlight onto a central receiver atop a tower to produce high-temperature steam, which runs a steam turbine and generator to produce electricity.

Alstom Power president Philippe Joubert said the partnership with BrightSource is a new step in its clean power strategy.

"BrightSource’s pioneering solar tower thermal power technology complements Alstom’s renewable energy solutions, building on our strength in hydro, geothermal, wind, tidal power, biomass and waste-to-energy solutions," Joubert said.