US-based solar power tower developer BrightSource Energy has raised $201.7m in its series E round that has seen French power equipment maker Alstom become its second-largest shareholder.
Alstom invested $75m in BrightSource’s E round, in addition to $55m committed last year as part of a $176m D round.
Philippe Joubert, president of Alstom Power, said: "We continue to build our partnership with BrightSource Energy to provide highly efficient solar thermal power plants that will bring customers cost-efficient and reliable carbon-free power. This further reinforces our commitment to the solar thermal market, in line with Alstom’s clean power strategy to provide leading solutions spanning hydro, geothermal, wind, biomass, waste-to-energy and tidal."
The other members of the E round consortium were oil majors BP and Chevron’s corporate venturing units, California state pension fund Calstrs and venture capital firms Vantage Point Venture Partners, Draper Fisher Jurvetson and DBL Investors, as well as undisclosed new investors.
Last month, BrightSource, formerly known as Luz II, had nearly raised its series E round after increasing the total to $125m but in its latest regulatory filing $201.7m had come from 39 investors after advice from Advanced Equities and Coady Diemar Partners.
The company has also gained a $1.37bn loan guarantee through the US Department of Energy in February last year to help finance its Ivanpah Solar Electric Generating System.
BrightSource has solar power contracts for 2,610 megawatts with US utilities Pacific Gas and Electric Company and Southern California Edison and plans to build up to 14 solar power plants in the US southwest. Internationally, BrightSource is partnering with Alstom to provide solar thermal power plants to markets in countries around the Mediterranean Sea and in Africa.