BrightSource Bids $10M For 500-MW Solar Trust Plant

Law360, Wilmington (June 15, 2012, 7:40 PM EDT) -- A Delaware bankruptcy judge on Friday approved BrightSource Energy Inc.'s $10 million stalking horse agreement for a 500-megawatt solar plant development, a deal that represents the first concrete offer bankrupt Solar Trust of America LLC has received for any of its assets ahead of its upcoming auction.

The stalking horse offer for the Palen project, a yet-unbuilt solar-thermal facility under development near Desert Center, Calif., will set the floor for the June 21 auction, which will be open to competing bids. BrightSource would pay $10 million...
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