Woolard: NRG and Google invested $300M and $150M in BrightSource's Ivanpah
John Woolard · Why concentrated solar couldn’t compete · Nov 13, 2024 · at 13:27
Former BrightSource Energy CEO John Woolard explains how corporate balance sheets stepped in to provide tax and cash equity for the Ivanpah solar project after the 2008 financial crash paralyzed Wall Street banks.
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“NRG, they came in and were able to take about three hundred million, I believe, of the Equity, both cash and tax. And then Google came in for about half that amount, and that gave us what we needed to do to restart the financing.”
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