Photo: BrightSource Energy
In another sign that old-line corporate giants see solar power as big business, engineering and construction giant Bechtel has signed a deal with BrightSource Energy to build the solar developer’s first solar power plant, a 440-megawatt project in Southern California on the Nevada border. As I write in Wednesday’s New York Times:
Bechtel, the global engineering and construction giant, has jumped into the solar power plant business in a deal with a developer to build a 440-megawatt energy complex in California.
The agreement, being announced Wednesday, calls for Bechtel’s development and finance arm, Bechtel Enterprises, to take an equity stake in the solar project known as the Ivanpah Solar Electricity Generating System. The collection of three solar power stations will deliver electricity to Pacific Gas & Electric and Southern California Edison.
Bechtel is teaming up with BrightSource Energy, a start-up company based in Oakland, Calif.
Ivanpah is the first large-scale solar power plant to undergo regulatory review in the United States in nearly two decades, and the selection of Bechtel as BrightSource’s engineering, procurement and construction contractor is considered a significant step in obtaining financing needed to build the project.
You can read the rest of the story here.