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Wednesday, April 7, 2010 as of 11:14 AM ET

David Crane

David Crane

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BrightSource's Withdrawn IPO Seen As Setback Within Industry

BrightSource Energy Inc.

's decision to cancel its planned initial public offering may have been the right move for the solar-power company, but it was a disappointment to clean-technology industry members who had hoped for a successful debut.The Oakland, Calif., company Thursday withdrew its registration to go public with the Securities and Exchange Commission, after announcing late Wednesday night that it was canceling its IPO, which had been scheduled for this week. BrightSource cited poor market conditions as a reason for the reversal."We made this decision from a position of strength," BrightSource Chief Executive John Woolard said Thursday. "We're in a strong financial position, we have a great foundation of investors and our business continues as planned."NRG Energy Inc. (NRG), which is the lead investor in a 392-megawatt solar-power plant called Ivanpah that BrightSource is building in the California desert, said construction of the project was going well and that BrightSource i...

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  7. NRG to boost gas-fired assets in West, Southeast

    HOUSTON, (Reuters) - NRG Energy Inc expanded its presence in California and other key power markets with Friday's purchase of five power plants for nearly $1.9 billi...

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