BrightSource casts successful bid for bankrupt Solar Trust’s 500MW Palen project

Facebook
Twitter
LinkedIn
Reddit
Email

Solar thermal project developer BrightSource Energy has placed the top bid for Palen, a 500MW solar thermal plant, at a Delaware auction of property of Solar Trust of America, which went bankrupt in April this year. The as-yet unbuilt solar thermal plant is said to have been bought by BrightSource for an unconfirmed amount of up to US$30 million.

On June 15, the court voiced its approval of BrightSource as a stalking-horse bidder – a setter of a bid benchmark below which other bids are not accepted – for the 500MW plant, and although the final bid amount was not confirmed, Bloomberg’s report on the news claims that the agreed price could well be in the region of US$30 million.
 
The sale will be subject to an approval hearing process on June 27.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Palen is one of three large-scale plants that will be sold off following Solar Trust’s bankruptcy proceedings. The other two projects up for sale are the 1GW Blythe project in Riverside County, California, which is fully permitted and has grid interconnection rights, and a 500MW plant in Amargosa Valley, Nevada that is still in the planning stage.

Read Next

August 7, 2026
India’s Ministry of New and Renewable Energy (MNRE) plans to announce a scheme covering more than 10GW of polysilicon production capacity.
August 7, 2026
Despite the new power inverter ban from the Federal Communications Commission (FCC), the US manufacturing is expected to meet new inverter demand, according to an analysis from energy market research firm Wood Mackenzie.
Premium
August 7, 2026
PV Tech Premium spoke with several industry analysts about the FCC inverter ban and how it will impact the US solar industry.
Premium
August 7, 2026
Wood Mackenzie’s Joseph Shangraw discusses the challenges facing the US plug-in solar market and the pathway to wider adoption.
August 7, 2026
The US introduced a 15% tariff on imports of products using polysilicon and set minimum prices for polysilicon and its derivatives.
August 7, 2026
Solar module manufacturer Heliene has laid off 93 employees at its Mountain Iron solar module assembly plant in the US state of Minnesota.

Upcoming Events

Solar Media Events
October 13, 2026
San Francisco Bay Area, USA
Solar Media Events
November 3, 2026
Málaga, Spain
Solar Media Events
November 24, 2026
Warsaw, Poland
Solar Media Events
February 2, 2027
London, UK
Solar Media Events
April 20, 2027
Istanbul, Türkiye