Nevada Site Could Provide Up to 600 Megawatts of Clean Solar Thermal Energy

(LAS VEGAS) March 17, 2009 – BrightSource Energy, Inc., developer of large-scale solar thermal energy plants, announced today that it has reached agreement on the principal terms of a private land contract with Nevada’s newest master planned community developer, Coyote Springs Land Company™. The agreement marks a critical step in the development of a solar thermal energy project that could provide up to 600 megawatts of clean reliable solar thermal energy to both the Nevada and California markets.

“With abundant sun and access to key markets in Nevada and California, the Coyote Springs site is an ideal location to develop clean, reliable and low cost solar thermal energy,” said Tom Doyle, executive vice president of project development for BrightSource Energy. “We’re excited to partner with Coyote Springs to place Nevada on the cutting edge of renewable energy, and to demonstrate that solar projects not only address climate change, but also create jobs and strengthen our economy.” 

“We are extremely proud to collaborate with BrightSource on a project that will demonstrate our and Nevada’s commitment to renewable energy,” said Harvey Whittemore, founder of Coyote Springs and chairman of Coyote Springs Land Company. “This facility has the potential to not only power Coyote Springs in an environmentally-responsible manner, but could also supply power to various areas throughout the western United States. We have received major environmental recognition in the past for the work that we do and this project is consistent with our long-standing commitment to protect the environment.”

The parties have identified a six-square-mile area within the larger Coyote Springs development in Lincoln County where BrightSource plans to construct a large-scale solar thermal energy project. The site is located on private property near transmission lines and, as part of the broader development site, has already received environmental permits from the Bureau of Land Management, U.S. Fish and Wildlife and various other federal, state and county agencies. The power generated from the Coyote Springs site could meet demand generated in the Coyote Springs development, southern Nevada, and California.

Located northeast of Las Vegas, the Coyote Springs development will also include several residential and commercial components. Whittemore has already opened PGA Golf Club Coyote Springs’™ first golf course, The Chase, an award-winning PGA golf course.

BrightSource Energy’s Technology

BrightSource Energy’s proprietary Luz Power Tower 550 (LPT 550) energy system is built on proven “power tower” technology. The system uses thousands of small mirrors called heliostats to reflect sunlight onto a boiler atop a tower to produce high temperature steam. The steam is then piped to a conventional turbine which generates electricity. In order to conserve precious desert water, the LPT 550 system uses air-cooling to convert the steam back into water. The water is then returned to the boiler in an environmentally-friendly closed system. This fully integrated energy system is designed to offer the highest operating efficiencies and lowest capital costs in the industry.

BrightSource has achieved numerous milestones over the past year. The company entered into two of the largest solar power purchasing agreements in the world – a 1,300 MW deal with Southern California Edison and a 900 MW deal with PG&E. In May, BrightSource announced that it had secured $115 million in additional corporate funding from its Series C round of financing, bringing the total the company has raised to date to over $160 million. In June, BrightSource dedicated its Solar Energy Development Center (SEDC), an operational solar field that will provide the company with the ability to test equipment, materials and procedures as well as construction and operating methods. In December, BrightSource signed an agreement with Siemens for the largest ever fully solar-powered steam turbine generator for its Ivanpah Complex.

For its technological leadership, the company was recently selected as a 2009 Technology Pioneer by the World Economic Forum. The only solar company to win this year’s prestigious award, BrightSource Energy was recognized for helping global utility and industrial customers reduce their dependence on fossil fuels by providing clean, low-cost and reliable solar energy.

About BrightSource Energy, Inc.

BrightSource Energy, Inc. provides clean, reliable and low cost solar energy for utility and industrial companies worldwide. The BrightSource Energy team combines nearly three decades of experience designing, building and operating the world’s largest solar energy plants with world-class project development capabilities. The company now has contracted to sell up to 2,200 megawatts of power to be generated using its proprietary solar thermal technology. BrightSource Energy’s solar plants lead the industry in environmental design and help customers reduce their dependence on fossil fuels. Headquartered in Oakland, Calif., BrightSource Energy is a privately held company with operations in the United States and Israel. To learn more about BrightSource Energy and solar thermal energy, visit www.brightsourceenergy.com. © BrightSource Energy, Inc. All rights reserved. All trademarks are the property of their respective owners.

About Coyote Springs:

Located 50 miles northeast of the Las Vegas Strip off US Highway 93, Coyote Springs is a 43,000-acre master-planned community under development by Coyote Springs Land Company™, an affiliate of Wingfield Nevada Group Holding Company LLC (WNG). Surrounded by breathtaking mountains within commuting distance of Las Vegas, the town will offer vacation golf living, commercial and retail centers, multifamily housing, custom home sites and unique residences from national builders supervised by master plan developer Pardee Homes of Nevada. A cornerstone of the community will be the first Western region PGA Village featuring world-class golf facilities. The Chase is the community’s first golf course and is an award winning Jack Nicklaus design. To learn more about Coyote Springs, visit www.coyotesprings.com.