The UN climate talks failed to deliver increased cuts to carbon pollution, nor did they provide any credible pathway to $100 billion per year in finance by 2020 to help the poorest countries deal with climate change, according to the 700 NGOs who are members of Climate Action Network-International (CAN-I).
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.