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

Premium
September 18, 2026
GameChange’s CEO Phillip Vyhanek explores the key factors shaping the fixed-tilt versus tracker debate across global markets.
September 18, 2026
GameChange commissioned trackers at a 283MWp South Africa project, while Gonvarri secured a 389MWp Chile contract.
Premium
September 18, 2026
Speed and accuracy matter for solar and storage diligence. Smart investors are harnessing artificial intelligence to achieve both.
September 18, 2026
EDF power solutions North America, a renewables subsidiary of French utility EDF, has achieved financial close on a 394MW solar PV project in the US state of Utah.
September 18, 2026
SMA has opened a new Gigawatt Factory in Niestetal, Germany, expanding its manufacturing capacity for utility-scale energy technologies.
September 18, 2026
Renewable energy infrastructure investor Actis has launched Yeltica Energy, a Mexican renewable energy platform.

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