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

June 22, 2012
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

October 31, 2025
Solar Media Market Research looks into the the Section 232 ruling in the US, tackling the questions that need to be understood.
October 31, 2025
US independent power producer (IPP) Treaty Oak Clean Energy has signed two environmental attribute purchase agreements (EAPA) with social media and data giant Meta.
October 31, 2025
US thin-film module manufacturer First Solar has unveiled plans to build a new 3.7GW manufacturing plant in the US in 2026.
October 31, 2025
Australia's solar and energy storage sectors delivered transformative performance during the third quarter of 2025, with grid-scale solar generation reaching 1,699MW average output while battery systems expanded capacity by 2,936MW since Q3 2024.
October 31, 2025
Acen Australia has committed to recycling around one million solar modules from its 400MW Stubbo solar PV power plant in New South Wales.
October 30, 2025
Scatec posted development and construction (D&C) revenues of NOK1,760 million (US$175.1 million) in the third quarter of this year.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany