BrightSource solar thermal illustration: Better than using the sun to soften oil
BrightSource Energy, the California based solar thermal energy company whose technology as innovated in Israel, and whose solar “star” was even touted by US President Barack Obama, is now in financial hot water again as its joint oil recovery project with giant energy company Chevron, appears to have incurred “significant cost overruns”, according to Reuters.
The oil recovery project, in which BrightSource’s patented solar thermal technology would be used to inject high pressure steam into oil wells to help Chevron soften the oil, would help pull out deeply embedded “heavy oil”. The company is incurring heavy financial losses of about $40.2 million, which company officials claim is $29.7 million more than “originally anticipated”.
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