This round was led by VantagePoint Venture Partners, Morgan Stanley and Draper Fisher Jurvetson. They were joined by new investors Alston (which committed to invest up to $55m) and California State Teachers Retirement System (CalSTRS). It brings the total amount the company has raises to date to more than $300m.
The new capital 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, as well as to execute the company’s international expansion plans.
BrightSource has operations in the United States, Israel, and Australia.