The World's #1 Renewable Energy Network for News, Information, and Companies.

BrightSource Wins Bid for Solar Trust's 500-Megawatt Project

BrightSource Wins Bid for Solar Trust's 500-Megawatt Project

BrightSource Energy Inc., the U.S. solar-thermal developer, was the top bidder at an auction today in Delaware to buy an unbuilt California power plant proposed by the bankrupt Solar Trust of America LLC.

“BrightSource has been confirmed as the winning bidder for the Palen Solar Power Project,” the Oakland, California-based company said today in an e-mailed statement. “Once the court approves the sale and the conditions are satisfied, the acquisition will be complete.”

The winner of the auction couldn’t immediately be confirmed in court papers.

Palen, located in Desert Center, California, is expected to have a 500-megawatt generating capacity and is one of three unfinished projects Solar Trust plans to sell.

The others are the 1,000-megawatt Blythe project in Riverside County, California, which is fully permitted and has grid interconnection rights, and another 500-megawatt project still in the planning stage in Amargosa Valley, Nevada.

Solar Trust planned to use arrays of trough-shaped mirrors at Palen to focus sunlight on a fluid-filled pipe to power a steam turbine and generate electricity.

BrightSource, which is building its $2.2 billion Ivanpah plant in California’s Mojave desert, uses a different solarthermal design. Its power-tower system uses mirrors to focus sunlight on a boiler atop a central tower, generating steam to produce electricity.

Bankruptcy Filing

Solar Trust and other units filed Chapter 11 on April 2 when rent was coming due on the 7,000-acre Blythe project. The company, based in Oakland, is a joint venture of the insolvent German company Solar Millennium AG and steelmaker Ferrostaal AG.

The court on June 15 approved BrightSource as a stalking- horse bidder for Palen, enabling it to submit a minimum bid that other buyers would have to surpass. The price could be as much as about $30 million, if all contingent payments are made, according to court documents.

A hearing to approve the sale will take place June 27. Bids for the remaining projects haven’t been published by the court.

The case is In re Solar Trust of America LLC, 12-11136, U.S. Bankruptcy Court, District of Delaware (Wilmington).

Copyright 2012 Bloomberg


States Already Seek To Delay Clean Power Plan

Andrew Harris, Bloomberg Fifteen states led by coal-rich West Virginia asked a federal court to stall Obama administration rules intended to cut the use of fossil fuel for power plants and slow climate change. The request on Thursday is the first ...

Stolen Solar Panels and Sabotage A Challenge for Powering India With Renewable Energy

Anindya Upadhyay, Bloomberg Disappointment spread across Tarun Singh’s face when he saw that parts of his solar power microgrid in eastern India’s Bihar state had been stolen. Batteries meant to store energy stood disconnected from solar panels and d...

Suntech Parent Company Buys Majority Share of US-based Suniva

Ehren Goossens Shunfeng International Clean Energy Ltd., the Hong Kong-based solar company controlled by billionaire Zheng Jianming, agreed to acquire a majority share of U.S. solar manufacturer Suniva for $57.8 million. Shunfeng intends...

Sunrise in Pakistan as the Country Delves into Solar PV

Robert Harker Pakistan has joined the list of countries that are exploring solar power as a means to bridge critical energy generation shortfalls.  The tariff that has been announced is priced to be attractive and interest is alrea...


Volume 18, Issue 4


To register for our free
e-Newsletters, subscribe today:



Intersolar Europe 2016

Exhibition: June 22-24, 2016; Conference: June 21-22, 2016 Intersolar Eu...

Intersolar India 2015

Exhibition and Conference: November 18-20, 2015 Intersolar India 2015 I...

Intersolar North America 2016

Exhibition: July 12 - 14, 2016; Conference: July 11 - 13, 2016 Intersola...


How To Recruit An Internal Ally

When you’re collecting information for a proposal, the person with...

The Proof Is Not Always In The Pudding

One of the best ways to turn a skeptical prospect into a buyer is to giv...

Pushing Beyond The Cushion

Efficiency projects are all too often viewed as “optional” o...


Tweet the Editors! @jennrunyon


Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now