Thursday, June 16, 2011

DOE Offers Loan Guarantees To Mojave Solar Project And Genesis Solar Project

U.S. Department of Energy (DOE) Secretary Steven Chu has announced the offer of conditional commitments to provide loan guarantees to support two concentrating solar power (CSP) projects: the Mojave Solar Project, which is being develohttp://www.blogger.com/img/blank.gifped by Abengoa Solar Inc. in San Bernardino County, Calif., and the Genesis Solar Project, which is being developed by NextEra Energy Resources LLC on land managed by the Bureau of Land Management in Riverside County, Calif.

The DOE is offering a conditional commitment for a $1.2 billion loan guarantee to support the Mojave project and a conditional commitment for up to a $681.6 million loan guarantee to support the Genesis project.

At 250 MW each, the projects' combined capacity will double the nation's currently installed CSP capacity and displace a total of 40% of the output from a typical 500 MW coal-fired plant, according to the DOE.
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