Arizona Solar Project Gets a $967 Million DOE Loan Guarantee
August 10, 2011
DOE announced on August 5 that it has finalized a $967 million loan guarantee to Agua Caliente Solar, LLC, for a solar photovoltaic generating facility in Arizona. The loan guarantee will support the construction of a 290-megawatt solar power plant, called Agua Caliente Solar, in Yuma County. The project will use thin-film solar panels manufactured by First Solar, Inc. Sponsor NRG Solar LLC estimates the loan guarantee will fund approximately 400 construction jobs and 10 full-time operating jobs at the plant, one of the largest of its kind in the world.
Agua Caliente will deploy innovative technologies new to U.S. solar power plants to improve the reliability and predictability of the electricity supplied to the electricity grid. Pacific Gas & Electric Company will purchase power generated from the project for California consumers. DOE's Loan Programs Office has issued loans or loan guarantees, or offered conditional commitments for loan guarantees totaling more than $40 billion to support 42 clean energy projects across the United States. See the DOE press release and the Loan Programs Office website.