BrightSource Eyes 500-MW Solar Trust Plant In Ch. 11 Auction

Law360, New York (June 11, 2012, 5:19 PM EDT) -- BrightSource Energy Inc. said Friday that it is pursuing a 500-megawatt project from the bankrupt Solar Trust of America LLC, the first major move for the company since it abruptly backpedaled on a planned initial public offering in April.

Solar Trust asked a Delaware bankruptcy court to schedule a June 15 hearing to approve BrightSource as the stalking-horse bidder for its Palen Project, a yet-unbuilt solar-thermal facility that will be located near Desert Center, Calif. The court last month gave Solar Trust the green light to...
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