BrightSource Energy approved to buy solar power project

A Delaware bankruptcy court approved BrightSource Energy’s request to purchase the planned 500 MW Palen Solar Power Project in California on June 27.

BrightSource had the winning bid for the project, which was being auctioned off as part of Solar Trust of America’s April 2012 bankruptcy filing. The two companies expect the sale to be finalized in July as they work to satisfy conditions of the sale before the acquisition can be completed, including transfer of the California Energy Commission permit from Solar Trust to BrightSource.

Palen is currently permitted as a solar thermal parabolic trough plant, but it will be converted to BrightSource’s proprietary solar thermal power tower technology.

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