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Monday, April 21, 2008
eSolar Raises $130M For Solar Power Plants
Pasadena-based eSolar said this morning that it has raised an astounding, $130M in venture funding for the construction and deployment of pre-fabricated solar power. The firm said the funding came from Idealab, Google.org, Oak Investment Partners, and others. eSolar said that the company--which develops photovoltaic technology for utility-scale solar--is looking to address large, utility-scale power projects, and will provide distributed solar thermal plants that achieve economy of scale at 33MW. The firm, which had announced a collaboration with Google's non-profit arm, Google.org in January, said its pre-fab 33MW modular designs will have minimal land requirements. Idealab's Bill Gross, who is Chairman of eSolar, said in a statement that the firm's business goal is to make solar electricity for less than the price of coal, without subsidies. The firm now has 70 employees.
posted on Monday, April 21, 2008 (Link to more information)
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