At $300 million, NRG Energy to become top investor in BrightSource’s Ivanpah

At $300 million, NRG Energy to become top investor in BrightSource’s Ivanpah | VentureBeat

In a move that could make solar a much bigger part of the grid, electricity wholesaler NRG Energy announced it will invest $300 million over the next three years in BrightSource’s Ivanpah project, a 392-megawatt solar thermal facility that will be the largest in the world.

NRG didn’t disclose the size of its stake, but said this investment will make it the lead investor in the project through its subsidiary NRG Solar. The project is expected to generate enough energy to power more than 140,000 homes.

BrightSource has already signed 20- to 25-year power purchase agreements to provide energy generated by Ivanpah to Southern California Edison and PG&E.