BrightSource Energy Raises Additional $90 Million

BrightSource Energy, Inc., developer of utility-scale solar thermal power plants, has raised an additional $90 million in its most recent equity financing, according to a U.S. securities law filing.

Keely Wachs, a spokesperson for BrightSource Energy, reports that the Company has now raised $420 million in equity financing to date.

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BrightSource Energy raises $150 Million Series D financing

BrightSource Energy, Inc., developer of utility-scale solar thermal power plants, has raised an additional $150 million in its most recent equity financing. The Series D round brings BrightSource’s total equity financing to more than $300 million and positions the company for significant growth.

New investors including Alstom and the California State Teachers Retirement System (CalSTRS) joined existing investors in this round, led by VantagePoint Venture Partners, Morgan Stanley and Draper Fisher Jurvetson.

The additional financing will be used to support BrightSource's 2,610 megawatts in contracts with Pacific Gas and Electric Company (PG&E) and Southern California Edison to build 14 solar power plants in the US southwest by 2016. The funds will also be used by BrightSource to further its international expansion plans.

“A Series D capital raise of this magnitude reflects the market’s confidence in our world-class team and the important role of our Luz Power Tower technology in meeting the growing global demand for cost-effective and reliable solar power,” said John Woolard, Chief Executive Officer of BrightSource. “By adding new strategic investors to our current blue chip investor base, we strengthen our ability to make solar thermal energy a significant part of the world’s energy mix.”



As part of the financing, global power-generation leader Alstom has committed to invest up to $55 million. This investment in BrightSource represents Alstom’s entry into the solar market and underscores BrightSource’s leading position in this industry.

Philippe Joubert, Alstom Power President, said, “BrightSource Energy’s market-leading solar-tower thermal-power technology complements Alstom’s strong portfolio of renewable energy solutions, building on our strength in hydro, geothermal, wind, tidal power, biomass and waste-to-energy solutions. Following this investment, both companies intend to enter into an industrial relationship, which will enhance BrightSource’s leading position in this industry.”

In February 2010, BrightSource received a conditional commitment from the U.S. Department of Energy for $1.37 billion in loan guarantees to support the financing of BrightSource’s Ivanpah Solar Electric Generating System project – the first of its US-based power projects. Once constructed, Ivanpah will be the world’s largest solar energy project, nearly doubling the amount of solar thermal electricity produced in the US today. The project will also create more than 1,000 local jobs at the peak of construction and generate $250 million in construction wages. The power plant will be constructed by Bechtel, the engineering, procurement and construction (EPC) contractor for the Ivanpah project. BrightSource expects to commence construction later this year.

“The BrightSource team continues to execute at the highest levels and set the bar for the utility-scale solar industry,” said Alan Salzman, Chief Executive Officer and Managing Partner of VantagePoint Venture Partners. “With BrightSource’s proven ability to hit commercial and technological milestones, we see no limit to the company’s potential in transforming global power markets.”

BrightSource is the parent of Jerusalem, Israel-based BrightSource Industries Israel (BSII), formerly called Luz II. BSII performs R&D, production and project engineering for its California-based parent company.

In June 2008, BrightSource launched the Negev Solar Energy Development Center, a demonstration plant producing the world’s highest temperature steam from solar, at the Rotem Industrial Park near Dimona, Israel.

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HelioFocus raises $10m from China's Sanhua and IC Green Energy

HelioFocus Ltd., an Israel-based solar thermal systems start-up, has raised more than $10 million from China's Zhejiang Sanhua Co. and existing investor IC Green Energy.

HelioFocus announced the investment last week at the Weizmann Institute of Science in Rehovot, Israel, where HelioFocus is developing its solar thermal technology to boost electricity production of existing power plants.

HelioFocus CEO Ory Zik said Sanhua, the Chinese maker of appliance components whose stock is traded on the Shenzhen stock exchange, would be not just a financial investor in the company, but will also produce some solar thermal components.

"We will be able to reduce costs and move relatively quickly to manufacturing," Zik told Reuters. "Components that can be made at lower cost in China will be produced there."

Sanhua, which will hold 30 percent of HelioFocus, will invest $9.25 million directly in the company and will acquire $1.25 million worth of shares from its founders.

IC Green Energy, the renewable energy investment arm of holding company Israel Corp, is the largest shareholder in HelioFocus with a 40 percent stake. It will invest $2.3 million in HelioFocus alongside Sanhua's investment.

The rest of HelioFocus is held by workers and management, including Sass Somekh, Co-Chairman of HelioFocus and Founder of Musea Ventures.

In 2008, HelioFocus raised a $10 million first round of financing from IC Green Energy, and the company is also a recipient of an $800,000 BIRD Foundation grant. The current investment from Sanhua and IC Green Energy values HelioFocus at $45 million.

Zik said HelioFocus, whose system converts the sun's rays into hot air to produce electricity, will release its first product in 2012 and is working on a pilot project in Israel. Funds raised from Sanhua will be used by HelioFocus to continue its research.

"We believe that the thermo-solar market will grow significantly, together with the rapid global development and ongoing legislation in the clean energy market," Yom Tov Samia, Co-Chairman of HelioFocus and president and CEO of IC Green Energy, said in a statement.

Jacky Eldan, Israeli consul general in China, said the door opened by Sanhua will pave the way for more cooperation and investments of Chinese companies in Israel.

HelioFocus' financing announcement is the latest in a series of successes for Israeli solar thermal companies. Siemens AG bought Israel-based Solel Solar Systems Ltd. for about $418 million in October 2009, AORA Solar raised $5 million in February 2009, and BrightSource Energy, which conducts R&D through subsidiary BrightSource Industries Israel, has announced a series of mega projects in the U.S. over the past year

Congrulations to Ory Zik and the rest of the team at HelioFocus!

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BrightSource signs research agreements with Hebrew University

Yissum Research Development Company, the technology transfer arm of the Hebrew University of Jerusalem, announced this week that it has signed two research agreements with BrightSource Industries Israel (BSII) for the development of new materials for solar thermal power plants.

Under the agreement, BrightSource will fund research in the laboratories of Professors Daniel Mandler, and Shlomo Magdassi, both from the Institute of Chemistry at the Hebrew University of Jerusalem. This research collaboration is based on the know-how of Yissum and BSII.

In addition to payment of research fees, BSII will compensate Yissum upon the successful implementation of the technology in its solar power plants. Financial terms were not disclosed.

The new materials may be integrated in the solar thermal power plant technology developed by BSII and implemented in new utility-scale power plants worldwide.

The BSII technology generates electric power from solar energy by using a field of mirrors to reflect sunlight onto a boiler mounted atop a central tower (LPT Luz Power Tower), where water is converted to superheated steam that drives a turbine generator.

"Solar energy is definitely the most important, yet underutilized, clean energy source. Israel has always been a leading player in the solar energy field, and the Hebrew University is proud to collaborate with BrightSource Industries Israel in increasing the efficiency of solar thermal power plants," said Yaacov Michlin, CEO of Yissum.

Yoel Gilon, Senior Vice President of BSII, said, "BSII's partnership with Yissum will leverage the academic and research excellence of the Hebrew University to develop cutting-edge new technologies for clean, cost-effective solar thermal power plants. The excellent level of cooperation among Yissum, the university researchers and BSII will be of great value to all the parties involved."

BSII, formerly known as Luz II, is a wholly-owned subsidiary of Oakland, California-based BrightSource Energy. BSII provides product development and engineering services, and supplies the solar fields, including heliostats, solar boilers, and control systems for all of BrightSource Energy's projects.

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Conference to highlight Jewish community's response to energy challenges

Young professionals will gather in San Francisco next month for a conference featuring cleantech entrepreneurs, investors and policymakers.

The goal of the Jewish Response to the Energy Challenge conference, scheduled for November 8th, is to "share ideas and experiences that will advance a generational movement for clean and secure energy."

The conference agenda features keynote speakers and breakout sessions on U.S.-Israel energy cooperation, transportation, clean economy, policy reform, and sustainability.

Confirmed speakers include:

Alan Salzman, CEO VantagePoint Venture Partners
Adam Werbach, CEO Saatchi and Saatchi
Jason Wolf, Head of Better Place California
Yosef Abramowitz, Co-Founder Arava Power Company
David Arfin, VP Strategy Solar City
JB Straubel, CTO Tesla Motors
Joel Makower, Executive Director, GreenBiz.com
Sanjay Wagle, Special Advisor, DOE Recovery Team
Anne Korin, Chair, Set America Free Coalition

I am pleased to be moderating the panel on U.S.-Israel energy cooperation, which will feature the following panelists:

Arthur Haubenstock, General Counsel, BrightSource Energy
Eitan Yudelevich, Executive Director, BIRD Foundation
Matan Friedman, Senior Associate, Bessemer Venture Partners
Sagi Rubin, Associate, Virgin Green Fund
Martin Kace, Founder and President, Empax

Registration for the conference is required.

I hope to see you next month in San Francisco!

Ashalim solar thermal tender delayed again

The tender for the solar thermal power project at Ashalim, Israel has suffered its third delay, because not all the regulatory permits have been obtained, the electricity production license has not yet been written, and the financial aid criteria for the winner have been formulated, according a report in Globes.

Globes reports that the deadline for submitting bids to the joint Ministry of Finance and Ministry of National Infrastructures tender committee, headed by Deputy Accountant General Avi Dor, has been pushed back from October 21, 2009 to December 10, 2009 .

The Ministries of Finance and National Infrastructures have allowed the seven bidders who passed the prequalification stage of the tender more time to prepare their bids.

The $700-800 million build-operate-transfer (BOT) tender is for construction and operation of two solar thermal power plants with a total output of 220 Megawatts.

The seven consortia participating in the Ashalim tender are:

• Shikun u'Binui Holdings Ltd. (Housing and Construction), Solel Solar Systems Ltd., and Bateman Engineering NV;
• Dor Alon Energy in Israel (1988) Ltd., Minrav Holdings Ltd., Germany's Solar Millennium AG, and France's Alstom SA;
• IDB Holding Corp. Ltd. unit Clal Energy Ltd. and Spain's Abengoa SA;
• BrightSource Energy Inc., Veolia Environnement SA, Dalkia Israel Ltd., and Solar Power Inc. of the US;
• Shafir Civil and Marine Engineering Ltd. and France's EDF Energy SA;
• Ormat Industries Ltd. and Germany's Bosch Solar Energy AG;
• Israel Corporation subsidiary IC Green Energy Ltd. (ICG) and Canada's SkyPower Corporation

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BrightSource Energy expands Nevada solar thermal project to 960 MW

BrightSource Energy, Inc., a leading developer of large-scale solar thermal power plants, announced today that it is expanding a land deal in Nevada that could enlarge the the project's potential to 960 megawatts, enough to power almost 500,000 homes.

BrightSource has reached a preliminary agreement with Nevada’s Coyote Springs Land Company™ to expand upon a previously-announced private land agreement in March 2009 to provide sites for up to 600 megawatts of solar thermal power.

The Coyote Springs project is part of BrightSource Energy’s strategy to develop 4 gigawatts of solar thermal power in California, Nevada, Arizona and New Mexico, including its first project located in Ivanpah, California. The Ivanpah project is in the final permitting stages with the California Energy Commission and the Bureau of Land Management, and is expected to begin construction in early 2010.

The size of the site has now expanded to include a twelve-square-mile area within the larger Coyote Springs development in Lincoln County. The site is located on private property near transmission lines and, as part of the broader development site, has already received environmental permits from the Bureau of Land Management, U.S. Fish and Wildlife and various other federal, state and county agencies. The power generated from the Coyote Springs site could meet demand generated in the Coyote Springs development, southern Nevada, as well as deliver power to California.

BrightSource Energy is the parent of Jerusalem, Israel-based BrightSource Industries Israel (BSII), formerly called Luz II. BSII performs R&D, production and project engineering for its California-based parent company.

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BrightSource Energy and Bechtel to partner on solar thermal power plants

BrightSource Energy announced today that it has selected Bechtel, a leading engineering, construction and project management firm, as the engineering, procurement and construction (EPC) contractor for the Ivanpah Solar Electricity Generating System.

The two companies also announced that Bechtel Enterprises, the project development and financing arm of the Bechtel organization, will become an equity investor in all of the Ivanpah solar power plants.

Under the terms of a series of EPC agreements, Bechtel will provide engineering, procurement, and construction services for the Ivanpah System – a 440 megawatt solar power facility consisting of three separate solar thermal power plants in southeastern California. The power generated from these solar plants will be sold under separate contracts established by BrightSource Energy with Pacific Gas & Electric (PG&E) and Southern California Edison (SCE). BrightSource’s contracts with PG&E and SCE total 2.6 gigawatts.

“Combining Bechtel’s world-class EPC capabilities with BrightSource’s leading solar thermal energy team is a natural fit,” said John Woolard, BrightSource’s President and CEO. “We share a common vision of setting the standard in building environmentally-friendly solar power plants while creating jobs for local communities. We very much look forward to partnering with Bechtel on constructing the Ivanpah facility.”

BrightSource estimates that the Ivanpah facility will result in approximately 1,000 jobs at the peak of construction, 86 permanent jobs*, and total economic benefits of $3 billion. The plants will also displace more than 450,000 tons (408,000 metric tonnes) of CO₂ annually, which is the equivalent of taking more than 75,000 cars off the road.

The Ivanpah facility is scheduled to begin construction in early 2010 following final permitting by the California Energy Commission and the Bureau of Land Management. In December 2008, BrightSource signed an agreement with Siemens to purchase the largest ever solar-powered steam turbine generator for the first of the three Ivanpah plants.

The Ivanpah facility will utilize BrightSource Energy’s proven Luz Power Tower 550 technology (LPT 550). The LPT 550 solar system produces electricity the same way as traditional power plants – by creating high temperature steam to turn a turbine. However, instead of using fossil fuels or nuclear power to create the steam, BrightSource uses thousands of mirrors called heliostats to re­flect sunlight onto a boiler filled with water that sits atop a tower. When the sunlight hits the boiler, the water inside is heated and creates high temperature steam. The steam is then piped to a conventional tur­bine which generates electricity. This fully integrated approach takes advantage of high operating efficiencies and low capital costs to provide reliable and low-cost carbon-free energy.

The LPT 550 solar system is also designed to minimize the solar plant’s environmental impact, reducing the need for extensive land grading and concrete pads. In order to conserve precious desert water, LPT 550 uses air-cooling to convert the steam back into water, resulting in a 90 percent reduction in water usage compared to conventional wet-cooling. The water is then returned to the boiler in an environmentally-friendly closed process.

Today, LPT 550 is employed at the company’s Solar Energy Development Center (SEDC) in Israel’s Negev Desert. Operating over the past year, the SEDC is producing the world’s highest temperature turbine quality steam from solar energy.

BrightSource is the parent of Jerusalem, Israel-based BrightSource Industries Israel (BSII), formerly called Luz II. BSII performs R&D, production and project engineering for its California-based parent company.

BrightSource Seeking Partners in China and India

BrightSource is actively seeking partners in India and China as it looks to expand its reach outside the United States, Chief Executive John Woolard said yesterday, according to a report from Reuters.

Moving "slowly and deliberately," BrightSource could announce partners in those two nations a year from now, Woolard told the Reuters Global Climate and Alternative Energy Summit in San Francisco.

"We are talking to various large companies over there," Woolard said. "Generally partners that are large, have engineering capabilities and can really deliver on plant construction and get things done."

Woolard's comments came on the same day that First Solar Inc, made the first major foray by a U.S. company into the fast growing Chinese alternative energy sector with plans to build the world's largest solar plant there.

"It shows a few things," Woolard said of the First Solar announcement. "One is that the Chinese are willing to think at a size and scale that is meaningful... and it also shows that the Chinese are ready and willing to look at real projects and real money."

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BrightSource and PG&E sign 1,310 MW solar power deal

BrightSource Energy announced today that it has entered into a series of contracts with Pacific Gas and Electric Company (PG&E) for a total of 1,310 megawatts (MW) of solar thermal power.

These power purchase agreements, covering seven projects, supersede the agreements PG&E executed with BrightSource in April 2008 for up to 900 MW of solar thermal power.

The first of these solar power plants, sized at 110 MW and located in Ivanpah, California, is contracted to begin operation in 2012. BrightSource will build and place in commercial operation each of its plants as quickly as permitting and infrastructure allow.

All seven projects are expected to produce 3,666 gigawatt-hours of power each year, equal to the annual consumption of about 530,000 average homes.

“Today’s agreements reflect the technological milestones that the BrightSource Energy team has achieved over the past year,” said John Woolard, CEO of BrightSource Energy. “Our technology is setting the bar for efficient production of solar energy. We’re thrilled by the opportunity to help PG&E and other leaders bring energy customers more clean and reliable solar energy.”

“The solar thermal projects announced today exemplify PG&E’s commitment to increasing the amount of renewable energy we provide to our customers throughout northern and central California,” said John Conway, senior vice president of energy supply for PG&E. “Through these agreements with BrightSource, we can harness the sun’s energy to meet our customers’ power requirements when they need it most – during hot summer days.”

BrightSource Energy now has contracted to sell more than 2,600 megawatts of power to be generated using its proprietary solar thermal technology. Headquartered in Oakland, Calif., BrightSource Energy is a privately held company with operations in the United States and Israel.

BrightSource Industries (Israel) Ltd. ("BSII"), formerly known as Luz II Ltd., headquartered in Jerusalem, is a wholly-owned subsidiary of BrightSource Energy. The BSII team provides product development and engineering services, and supplies the solar fields, including heliostats, solar boilers, and control systems for all of BrightSource Energy's projects.

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BusinessWeek covers "Israel's Cleantech Pioneers"

Israel's cleantech industry is the focus of an article in the current issue of BusinessWeek.

A feature article, titled "Israel's Clean Technology Pioneers," includes coverage of companies and venture capital funds including Ormat Technologies, BrightSource Industries, Netafim, and Israel Cleantech Ventures. It also includes a quote from the author of this blog.


Highlights of the article include:

• Yavne, a hazy industrial corridor in central Israel, seems at first glance an improbable haven for geothermal technology. Its largely barren environs offer no geysers or volcanoes, the essential raw materials for geothermal energy. Yet this small city of 32,000 is home to Ormat Technologies, a $2 billion multinational listed on the New York Stock Exchange that builds geothermal power plants around the world, from Colorado to Kenya.

• Israel's siege mentality is driving its six-decade quest to coax more from the soil, water, air, and sunlight than do most other nations on earth.... "The world is now realizing it has to deal with things that Israel has had to tackle for 50 years," says Jacques Benkoski, a venture capitalist with Silicon Valley-based U.S. Venture Partners. "Doing more with less is becoming the standard."

• Google co-founder Sergey Brin and several U.S. politicians have paid visits to Israel recently to learn about water- and energy-conservation technologies. "We can't rely on others for our safety and security," says Phoenix Mayor Phil Gordon, who is looking to import Israeli solar expertise.

• Israel is a nation of contradictions, socialist in many ways but laissez-faire when it comes to the economy. The national equivalent of a startup, it was founded by people willing to make a go of it in a swath of land dominated by desert.

• "The cleantech economy here hums independently, on market forces and innovation, despite the political situation," complains Glen I.A. Schwaber, 39, a founding partner at $75 million Israel Cleantech Ventures, a VC firm that he runs with Harvard classmate Jack S. Levy.

• Today Hatzerim and two affiliated kibbutzes remain majority owners of the company that has grown into Netafim, a $500 million high-tech drip-irrigation giant employing 2,600 people in 110 countries.
  

• BrightSource's technology seems right out of science fiction. As the van traverses the final mile to a test center in Dimona, what looks like a burning oil rig looms in the distance. Inside the maximum-security complex, passengers present their passports and don protective boots to guard their feet from the scorching sands. A semicircular array of 1,641 mechanized coffee-table-size mirrors pivot to reflect the desert sun's rays onto the boiler atop the rig, which BrightSource calls a "power tower." The company's power towers produce superheated steam for turbines. They "offer the maximum level of efficiency," says Alan E. Salzman, managing partner of Silicon Valley's VantagePoint, BrightSource's largest investor.

• What if Israel could find the will to harness the power of its drip pipes, power towers, and desert fish farms? "Israel has such a geopolitical vested interest to steer this innovation," says Jonathan Shapira, a corporate attorney in Boston who organizes and blogs about Israeli cleantech. "Innovating around scarcity is increasingly the world's story."

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BrightSource Energy plans 600MW solar thermal project in Nevada

BrightSource Energy, Inc., developer of large-scale solar thermal energy plants, announced last month that it has reached agreement on the principal terms of a private land contract with the Coyote Springs Land Company in Nevada.

The agreement marks a critical step in the development of a solar thermal energy project that could provide up to 600 megawatts of clean reliable solar thermal energy to both the Nevada and California markets.


"With abundant sun and access to key markets in Nevada and California, the Coyote Springs site is an ideal location to develop clean, reliable and low cost solar thermal energy," Tom Doyle, executive vice president of project development for BrightSource.

The power from BrightSource's project could serve not only Coyote Springs, but also other BrightSource customers such as the Southern California Edison and Pacific Gas and Electric, said Keely Wachs, a spokesman for BrightSource, according to Greentech Media.

BrightSource Industries (Israel) Ltd. ("BSII"), formerly known as Luz II Ltd., headquartered in Jerusalem, is a wholly-owned subsidiary of BrightSource Energy. The BSII team provides product development and engineering services, and supplies the solar fields, including heliostats, solar boilers, and control systems for all of BrightSource Energy's projects.

Arnold Goldman, the founder of BrightSource Energy, recently addressed the CleanIsrael meetup group in Tel Aviv. A transcript of his remarks is available on the group's web site.

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BrightSource Energy and SCE sign 1.3 GW solar thermal deal

BrightSource Energy has signed a contract with Southern California Edison (SCE) to supply 1,300 megawatts of solar thermal power, enough to serve nearly 845,000 homes. This is the largest solar deal ever announced.

BrightSource will develop seven solar facilities for SCE under terms of the deal. The first 100-megawatt plant, to be built at BrightSource's Ivanpah complex in the Mojave Desert, is due to come online in early 2013.

In total, BrightSource now has 4.2 GW of solar sites under development.

BrightSource did not disclose the size of the new contract or the cost of building these solar thermal plants.

BrightSource CEO John Woolard revealed earlier this month at the World Economic Forum that the company's existing projects may be delayed because of difficulties in obtaining project financing.

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BrightSource looks to Obama stimulus for relief, may have to delay construction of California solar plants

BrightSource Energy's Ivanpah Solar Power Complex planned for California could be delayed if the U.S. government's economic stimulus package does not provide incentives to unlock financing for renewable energy projects.

BrightSource Energy Inc, which last year signed contracts with California utility PG&E Corp to provide up to 900 megawatts of solar thermal power, still needs to secure financing for the project, which BrightSource is scheduled to begin constructing in late 2009.

"We should be able to turn dirt over and start construction in the fourth quarter of this year, but big financings don't come in months," BrightSource CEO John Woolard said in an interview with Reuters at the annual meeting of the World Economic Forum in Davos, Switzerland. "Depending on what happens out of the stimulus bill, it could get pushed back."

U.S. President Barack Obama's proposed $825 billion economic stimulus plan, which offers incentives for renewable projects, will be critical to jump-starting investment again, Woolard said.

"If you were to wait for private markets to come back completely, you'd be waiting a long time. But if you look at what you can do with the right amount of government support, you could see things happen this year," he said, calling the stimulus package "one of the most important pieces of legislation in renewables, period."

Despite the apparent recent difficulty in obtaining project financing for the Ivanpah Complex, BrightSource has achieved several major milestones in the past year:

• In March, BrightSource entered into a series of power purchase agreements with PG&E for up to 900MW of electricity. Ivanpah would be California’s first large-scale commercial solar thermal power plant in nearly three decades.
• In May, BrightSource announced that it had secured $115 million in additional corporate funding from its Series C round of financing, bringing the total the company has raised to date to over $160 million. VantagePoint Venture Partners, the company’s initial investor, led the syndicate, which included Google.org, BP Alternative Energy, StatoilHydro Venture and Black River, Morgan Stanley, DBL Investors (formerly a subsidiary of JP Morgan), Draper Fisher Jurvetson, Chevron Technology Ventures.
• In June, BrightSource dedicated its Solar Energy Development Center (SEDC), an operational solar field that will provide the company with the ability to test equipment, materials and procedures as well as construction and operating methods. The SEDC is located at the Rotem Industrial Park in Dimona, Israel, and is managed by BrightSource Industries Israel (formerly Luz II), the company's wholly-owned Jerusalem-based subsidiary.
  
• In December, BrightSource signed an agreement with Siemens for the largest ever fully solar-powered steam turbine generator for its Ivanpah Complex.
• Last week, BrightSource announced that Andrew Siegelstein has been named General Manager for the company’s subsidiary BrightSource Construction Management Company. Under Siegelstein's leadership, BrightSource Construction Management Company will oversee and manage the construction of BrightSource Energy’s solar energy projects, including the Ivanpah Complex.

BrightSource also seems to be doing better than its competitors, OptiSolar and Ausra. According to reports in Earth2Tech and GreentechMedia, both OptiSolar and Ausra are laying off employees. Ausra, which is backed by high-profile cleantech VCs Khosla Ventures and Kleiner Perkins, is reportedly changing its business plan because of the difficult financing environment and will focus on supplying equipment and building small power plants.

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Israel Venture Capital Jounal: "Can cleantech sail through the slump?"

The current issue of the Israel Venture Capital Journal, published by the IVC Research Center, is now available online.

Entitled "High C: Can cleantech sail through the slump?" (pdf), the issue contains a list of Israeli cleantech companies and articles by cleantech investors and entrepreneurs, government officials, and service providers:

• Sustainable development is essential for our future, by Minister of National Infrastructures, Benjamin (Fuad) Ben-Eliezer
• Belt tightening impacts cleantech trends, by Richard Youngman, Managing Director (Europe) of Cleantech Group
• The landscape has changed, but the opportunity persists, by Zeev Holtzman, Chairman of IVC and Giza Venture Capital
  
• Adjusting to cleantech investment, by Eytan Levy, CEO of Emefcy, and Gene Dolgin, analyst at Israel Cleantech Ventures
• The next cleantech frontier: Africa, by Daniel Schwab, Managing Director of Kayema Investments, and Miriam Schwab, CEO of Illuminea Marketing & Media
• Solar thermal energy: Israel and the Obama opportunity, by David Anthony, Managing Partner at 21Ventures
• Cleantech, Clusters, and Convergence: How investors and entrepreneurs combine to save the planet, Prof. Philip Cooke of Cardiff University
• US Government Grants: An alternative source of funds for Israeli cleantech startups, by Itai Nevo and Jonathan Shapira of Goodwin Procter LLP
  
• Cleantech calls for a different VC approach, by Rafi Gidron, Orni Petruschka, Nimrod Good and Albert Olier of Precede Technologies
• Light and harmony come mainstream, a profile of Arnold Goldman, Chairman of BrightSource Energy
• Everything you (n)ever wanted to know about cow manure, by Shlomi Ben-Arush, Marketing Manager at Global Environmental Solutions
• Early stage investing in a challenging environment, by Astorre Modena, General Partner of Terra Venture Partners
• The next opportunity in cleantech: A holistic approach to the water and energy nexus, by Booky Oren, Chairman of Miya
  
• In a downturn, aggressive communication and PR are key, by Steve Schuster, CEO of Rainier Communications
  
• Yes, Israel can take advantage of opportunities in cleantech! by Sarit Soccary Ben Yochanan, CEO of ATI Incubator
  
• Cleantech IP trends: intellectual property management from a business perspective, by Sharon Dayan, VP of Business Development at GTT Global Technology Transfer
  

BrightSource Energy signs contract with Siemens for solar-powered generator

BrightSource Energy, Inc., developer of large-scale solar thermal energy plants, has signed a contract with Siemens to purchase the steam turbine generator for BrightSource's first 100MW plant at its Ivanpah Solar Power Complex in California's Mojave Desert.

The contract with Siemens is for the supply of a 123 MW fully solar-powered steam turbine generator. When completed, the turbine is expected to be the largest fully solar-powered steam turbine generator to date.

"This contract marks another significant milestone in building California's first large scale-solar power plant in decades," said John Woolard, CEO of BrightSource Energy. "The Siemens high quality solar-powered turbine generator offers additional certainty that the project will deliver cost effective, reliable, and clean solar power."

Due to a lengthy production process, turbine generators must be ordered approximately three years in advance of the planned delivery date. The Siemens turbine is slated to be delivered in early 2011, and BrightSource expects this first phase of its Ivanpah Solar Power Complex to be operational and supplying solar energy to utilities in the fourth quarter of 2011.

The Ivanpah Solar Power Complex that BrightSource is building near the California/Nevada border in the Mojave Desert will power 250,000 homes and reduce carbon dioxide (CO2) emissions by over 500,000 tons per year. According to BrightSource, the Ivanpah Solar Power Complex will produce more electricity in one year than the total of all of the residential solar installations currently installed in the US.

BrightSource is the parent of Jerusalem, Israel-based BrightSource Industries Israel (BSII), formerly called Luz II. BSII performs R&D, production and project engineering for its California-based parent company.

BrightSource Energy selected as World Economic Forum Technology Pioneer 2009

Last month, BrightSource was selected as a 2009 Technology Pioneer by the World Economic Forum. BrightSource was the only solar company to win this year's prestigious award.

The Technology Pioneers Program identifies companies that have contributed to the Forum's mission of improving the state of the world. To be selected as a Technology Pioneer, a company must be involved in the development of life-changing technology innovation and ahve the potential for long-term impact on business and society.

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Rotem Industries and Midwest Research Institute to establish renewable energy technology center in Dimona

Midwest Research Institute (MRI) and Rotem Industries Ltd announced that they have reached an agreement to jointly establish a Renewable Energy Technological Center (RETC) in the Rotem Industrial Park located in Dimona, Israel.

MRI and Rotem aim to develop and commercialize new clean technologies at the RETC.
MRI is one of America's leading independent research institutes conducting research in the areas of national security and defense, energy and environment, life sciences, food and agriculture, and transportation safety. It is one of the two entities in the Alliance for Sustainable Energy, LLC, that manages and operates the National Renewable Energy Laboratory (NREL) in Golden, Colo., for the U.S. Department of Energy.

Rotem, a quasi-governmental entity, specializes in evaluating seed technologies, bringing them to market readiness and commercializing the resulting products. In 2005, Rotem established a Renewable Energy Innovation Center that is now home to projects like Leviathan Energy's experimental wind park and BrightSource Energy's "Solar Energy Development Center".

MRI and Rotem will also collaborate with TASC Capital to invest in promising renewable energy technologies.

MRI and Rotem will organize and manage the RETC, with Rotem providing the facilities and MRI providing expertise in the technical screening and evaluation of potential projects. It is anticipated the Center will be ready for operation in January 2009.

"In Israel, MRI has found innovative technologies with commercialization potential that will advance new renewable energy applications in the marketplace," said Roger Starnes, MRI Group Vice President of Strategic and Emerging Program Development. "MRI's and Rotem's capabilities complement each other and by working together through the Center we will be able to accelerate the advancement of these technologies."

This agreement would seem to put Rotem in a strong position to receive government support under a Negev renewable energy R&D program approved by the Israeli government in August, 2008.

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US & Israel to launch energy cooperation agreement at Eilat Energy Conference

The Eilat-Eilot International Renewable Energy Conference announced that the US-Israel Energy Cooperation Act, passed last year by the U.S. Congress, is expected to launch at the upcoming Eilat-Eilot energy conference, to be held from February 17-19, 2009, in Eilat, Israel.

The cooperation act will fund eligible joint ventures between U.S. and Israeli businesses, as well as establish the International Energy Advisory Board. Hezi Kugler, Director General of the Ministry of National Infrastructures will be leading the delegation of National Infrastructure representatives who will be in attendance at the conference.

“The Ministry of National Infrastructures views with high import the development of the Eilat-Eilot Region as a center of renewable energy solutions, and we not only fully support them in this pursuit, but we ourselves are very involved in advancing their initiatives,” Kugler said. “The conference is an important step towards developing the alternative energy capabilities of this region, and will certainly push us forward in becoming an alternative energy world leader.”

Timna Renewable Energy Park

The conference will also feature the unveiling of plans for the Timna Renewable Energy Park, the centerpiece of the Eilat-Eilot region’s efforts to turn Southern Israel into the “Silicon Valley” of renewable energy. It will feature technologies from companies around the world, with planned projects to include a combined wind/solar "farm"; a solar thermal power plant; a solarized turbine pilot plant and the production of biogas from municipal waste.

"The Arava is home to intense sun and a pioneering spirit, which are the necessary ingredients for creating a renewable energy revolution in the State of Israel", said Yosef I. Abramowitz, president of the Arava Power Company, a leading solar developer.

Leading Solar Power Companies

Participating Israeli solar companies, including the Arava Power Company (APC), Solar Power Israel and Sunday Solar Energy, intend on using the conference to launch their next phases of growth. Recently, APC announced an agreement to utilize kibbutz land in the Arava and the Negev for solar fields generating at least 500 MW, and eventually one gigawatt (GW) or more, while energy integrator Sunday Solar Energy announced a NIS 500 million ($133 million USD) investment in photovoltaic solar arrays for kibbutzim across Israel. The investment is expected to be made across the country during the next two years.

The conference will also feature international firms such as the Google-backed eSolar, the German company Concentrix and SunPower, one of the world’s largest solar power technologies companies.

Conference sponsors include Brightsource Energy, Chromagen, Granite HaCarmel and Erdinast, Ben Nathan & Co. Advocates.

BrightSource Energy examines potential solar sites in New Mexico

BrightSource Energy, a solar power company based in Oakland, CA and Jerusalem, Israel, has identified almost 14,000 acres of New Mexico trust lands in Luna and Hidalgo counties as potential sites for utility-scale solar power plants.

State Land Commissioner Patrick Lyons recently signed a five-year option agreement with BrightSource Energy for $60,374. The option gives BrightSource two years to measure solar radiation, conduct environmental surveys, perform soil analyses, negotiate power purchase agreements and acquire transmission agreements.

According to a State Land Office press release, once a long term lease is executed, BrightSource intends to build a 600-megawatt facility on the Luna County site and sell power to the California market over the next 10 to 15 years. The intended facility will have the capacity to power 300,000 homes annually.

New Mexico's renewable portfolio standard requires that 15 percent of an electric utility's power supply must come from renewable sources by 2015. The requirement goes to 20 percent by 2020.

Separately, BrightSource Chairman Arnold Goldman was recently profiled in the New York Times and BrightSource CEO John Woolard was profiled in the San Francisco Business Times.

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BrightSource Energy planning 1200 MW solar power facility in Nevada

BrightSource Energy is planning to build three solar thermal power plants, which will produce 1,200 megawatts (MW) of electricity, enough to power 900,000 homes, at a desert site northeast of Las Vegas.

According to a local news report in Nevada, BrightSource has been in talks with Overton Power District, a public utility, for several months about the possibility of upgrading existing transmission lines that would deliver to the grid increased power generated by the solar facilities

Last week, BrighSource executives brought local officials out to the site and then delivered a presentation on the proposed facilities.

John Woolard, CEO of Bright Source, and Tom Doyle, the company’s Senior VP of Project Development, said they plan to build three 400-megawatt plants on Mormom Mesa, federal lands 65 miles from Las Vegas (see map).

“We have a plan of development we’ll submit to BLM [the Bureau of Land Management, which must approve the plants], Doyle says. "We’re hoping to be operational as early as 2012, pending an outtake agreement (with the local utility).”

Woolard says the plants’ environmental footprint “would be as benign as possible. It will be carbon free with low water usage and will use one-third to one-quarter the land use a wind facility would use. It’s something we’re very focused on.”

Doyle said southern Nevada’s unique situation as a hub of electrical power would enable Bright Source to send solar-generated electricity to other states.

“The first phase is a 400-megawatt project,” Doyle said. “We can sell the power in Nevada. We’ll expand up to 1,200 megawatts and sell to other states. We’re using one state’s indigenous resource – clean power – to bring to other states.”

One hundred megawatts of power is enough to take care of the power needs of 75,000 homes, Woolard said.

Headquartered in Oakland, CA, BrightSource has raised over $160 million from investors such as VantagePoint Venture Partners, JP Morgan, and Google.org. Last spring, the company entered into a series of contracts with Pacific Gas and Electric Company (PG&E) to build up to 900 MW of solar power in California at a cost of $2-3 billion.

Luz II, based in Israel, is a wholly owned subsidiary of BrightSource Energy, Inc. responsible for the company's solar technology development, plant design and engineering. In June, 2008, BrightSource and Luz II dedicated their Solar Energy Development Center in the Negev's Rotem Industrial Park.

It was reported last month that BrightSource is opening an office and looking for partners in Arizona and that the company plans to build solar thermal power plants near Phoenix.

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BrightSource Energy expanding to Arizona

BrightSource Energy is opening an office and looking for partners in Arizona, according to a recent report in the Phoenix Business Journal.

BrightSource officials have been in discussions with the city of Phoenix about a potential site that could house up to a 400 megawatt solar generating station or more on city land.

Phoenix Mayor Phil Gordon said solar power appeals to the city as a method to reduce its energy costs. Partnering with a solar provider also would have the benefit of bringing additional jobs and a more diversified economy to the region.

"We've got to use our resources as a city to get off fossil fuel," he said.

Gordon saw BrightSource's research and development facility, run by subsidiary Luz II, during a trip to Israel earlier this year. That started conversations about how to bring the company's technology to Arizona.

BrightSource has already entered into a series of power purchase agreements with Pacific Gas and Electric Company for up to 900MW of electricity, the largest solar power commitment ever made by a utility. The company is now building plants in Southern California and it's hoping to bring that technology to Arizona, said Tom Doyle, the company's senior vide president for project development.

"When we look at the renewable market, California is a huge market because of its renewable energy portfolio, but so is Arizona," Doyle said.

A 100-megawatt generating station would bring up to 500 construction jobs during the 18 to 24 months it would take to build, and then the facility would run on a staff of about 20 to 24 people, said Joshua Bar-Lev, vice president of regulatory affairs for BrightSource.

That same plant would produce about $240 million in economic benefits over a 30-year period, assuming that it received tax credits for its construction and paid no property tax, Bar-Lev said.

BrightSource has been looking at Phoenix-owned land and has found several parcels that it could use within proximity to transmission lines.

BrightSource is also in discussions with Arizona State University about partnerships they can have, particularly in their construction management program.

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