October 1, 2008 / 9:53 PM / 12 years ago

Solar developer Ausra gets $60M private investments

LOS ANGELES, Oct 1 (Reuters) - Solar thermal power developer Ausra said on Wednesday it has secured $60.6 million in financing from four groups, including its founding investor Kleiner Perkins Caufield & Byers.

Investors include KERN Partners of Calgary, Starfish Ventures of Melbourne, Australia, and Generation Investment Management of London.

The investors will help fund privately held Ausra’s research and product development and commercial activities, including the completion of its 5-megawatt solar thermal project in Bakersfield, California, Ausra said.

Ausra is developing its form of concentrated solar power (CSP). It uses reflectors that concentrate the sun’s light onto tubes filled with liquid that turns into steam to run turbines for generating electricity without polluting emissions.

Ausra in June opened a manufacturing plant in Las Vegas, Nevada to make components of its systems.

The company, based in Palo Alto, California after having been founded in Australia, is developing a 177-megawatt solar thermal power plant for PG&E Corp in central California. (Reporting by Bernie Woodall; Editing by David Gregorio)

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