BrightSource Energy Pulls IPO
April 13, 2012 by Douglas A. McIntyre
The faltering American solar industry suffered another set-back. BrightSource Energy, a solar power-plant developer , killed its IPO at the last minute. The company was part of a project which got $1.6 billion in support from the federal government. Solar companies in general have fallen out of favor recently as the prices for panels, and therefore margins, have fallen apart. Many solar stocks trade near all time lows. BrightSource blamed stock market conditions for its IPO problem, which makes no sense given the rapid rise of the overall stock market. BrightSource builds large solar plants, which should not be confused with troubled panel makers, but investors do not appear to know the difference.
