Alstom announced that it invested $ 40 million in additional BrightSource Energy, a U.S. company specializing in solar thermal power generation technology with a focus on solar thermal towers concentration.
Thus, since its entry into the capital in 2010, Alstom has gradually increased its stake and now owns over 20% stake in BrightSource.
BrightSource has recently completed the first phase of construction of the Ivanpah in the central San Bernardino County, California. This production complex solar electric (ISEGS – Ivanpah Solar Electric Generating System) is proposed solar power plant the largest in the world.
Alstom and BrightSource conduct joint research and development in the field of energy storage and solar hybrid solutions combining solar and fossil fuels. The two companies have also agreed to extend the geographical coverage of their partnership to India and Australia, two countries where solar conditions best suited to the technology of solar towers where Alstom and BrightSource has strong references in engineering and construction of power plants.
Moreover, the two entities have already announced their intention to work together in the Mediterranean and Africa.
“By consolidating our partnership with BrightSource Energy, we confirm our commitment to jointly develop and deliver a range of integrated solutions for solar thermal power plants. We believe the development and future competitiveness of solar tower technology. This new investment of Alstom BrightSource reinforces our commitment to this promising market and our strategy to provide sustainable solutions for all renewable energy, whether hydro, wind, geothermal, ocean energy and biomass, “said Jerome Pécresse, President of Alstom Renewable Power.
This new commitment in BrightSource Energy confirms that our solar tower technology is essential to meet the growing demand worldwide for clean, reliable and cost effective,” said John M. Woolard, CEO of BrightSource Energy.
According to the International Energy Agency (IEA), combining solar concentrating solar power and photovoltaic energy could represent 25% of total electricity generation by 2050 and cover a third of global demand from of 2060. By itself, concentrated solar power could meet 11.3% of electricity needs in the world by 2050.