Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_acquisition.php on line 243
Dealipedia - VantagePoint Venture Partners acquires Luz II

VantagePoint Venture Partners acquires Luz II

Deal Participants:
Acquiring Company: VantagePoint Venture Partners View Profile Add Homepage Google Search
[x]
Enter Homepage URL http://
Target Company: Luz II View Profile Charts Homepage
Deal Financials:
 
Date:
Announced: Nov 01, 2006

Notes:

PRESS RELEASE

Silicon Valley VC to invest in 100 megawatt solar power plant
In another sign of Silicon Valley's growing stake in solar energy, VantagePoint Venture Partners will soon announce an investment in a 100 megawatt solar power plant. VantagePoint's John Woolard disclosed the investment today at the Solar Power 2006 conference in San Jose.

The investment is notable on a couple counts. So far Silicon Valley has preferred to invest in companies producing photovoltaic panels and other solar technology for homes and offices. Valley VCs have stayed away from solar thermal power plants, large facilities which use solar radiation to heat liquids or other substances to create steam that drives turbines to generate electricity. It's the solar equivalent of investing in a computer chip factory as thermal solar plants typically cost hundreds of millions of dollars to build. Solar thermal plants plug into the power grid and sell their electricity to regional utilities.

"We look at things that are highly disruptive and can exist in a world of declining subsidiaries," Woolard told a standing room audience of several hundred people at a session on investing in solar energy.

Woolard didn't identify the solar power plant company, the facility's location or the size of the investment and left before we could corner him for more details. When asked if such an investment put his firm in the position of becoming a big project financier, he said VantagePoint's strategy was to invest in the technology and engineering team, leaving the financing of plant construction to other investors.

After the oil shock of the late 1970s, a slew of experimental solar power plants were built, including several in the California desert. But when oil prices subsequently fell to record lows in the 1980s, the projects were largely abandoned. The return of sky-high oil prices, global warming fears and laws to cap greenhouse gas emissions have reignited interest in solar thermal plants and several are under construction in Europe and the United States.

Banking Representation:
(add missing info)  
Legal Representation:
(add missing info)  
Who Made the Money?:
Name

Title
Shares (mm)
Ownership
Cost Basis

Amt (mm)
Net (mm)
Info missing?
Add it!
Edit History:

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_acquisition.php on line 746

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_acquisition.php on line 746
Dec 03 '07
Dec 03 '07
This version submitted by azstrik

 

Top