BrightSource files for an IPO

A solar company that's building a massive plant in the desert using Federal funds has filed to go public. The documents provide an interesting glimpse at the challenge solar thermal power faces. From Earth2Tech,

Washing the Mirrors: Building solar thermal plants in the desert has at least one major drawback: The mirrors get dirty. BrightSource says each mirror needs to be cleaned every two weeks to get rid of dust and maintain solar performance. The mirrors will be washed at night using a dedicated crew using specialized mobile equipment. But BrightSource says: "If the mirror washing equipment and process are not effective, actual operating costs may be substantially higher than forecasted or total electrical production may fall short of estimates."

BMW goes Electric, sort of

BMW Group has already experimented with an electric version of its Mini Cooper. Now the BMW brand will lease 1,100 of a car it's calling the ActiveE. It's supposed to get 100-miles per charge, regardless of weather (the supposed 100-mile range of the Nissan Leaf can be almost halved by a very cold day.) BMW won't come out with a real mass produced electric car until 2013. The company's CEO doesn't seem optimistic about the chances of its electric cars. The Detroit News quotes him as saying that electric cars, which have limited range, "won't work for most people." He's betting diesel technology will do better.

The U.S. Department of Energy has announced a $1.37 billion conditional loan guarantee for the Ivanhoe Solar Complex in the Mojave Desert. The project, managed by Brightsource Energy, will use mirrors to concentrate sunlight, creating high temperatures that can be used to generate electricity. The complex will include three power plants that together will produce about 400 megawatts of electricity.

Basically, the guarantees would cover the loans in the case of default. The money for the loans is expected to come from the Federal Financing Bank.

One of the biggest challenges that large solar developments face is getting financing, particularly because few such solar power plants have been built. The DOE guarantees help on this front.

But other challenges remain, including getting approval from the government to actually build on the chosen sites, and clearing the National Environmental Policy Act review. The application process for the plants started nearly 3 years ago, and construction on the sites has already been delayed. Before the process is over, new hurdles might get thrown up, a possibility illustrated recently when Senator Dianne Feinstein (D-CA) submitted legislation to ban solar projects from some parts of the Mojave desert, a move that threatened several projects already in the works.