DOE Finalizes $197 Million Loan Guarantee for Solar Manufacturing Facilities
August 24, 2011
DOE announced on August 19 it has finalized a $197 million loan guarantee to SoloPower, Inc., for constructing and operating state-of-the-art thin-film solar module manufacturing facilities at sites in Portland, Oregon, and an existing site in San Jose, California. At full capacity, the facilities are expected to produce more than 400 megawatts of flexible photovoltaic (PV) modules annually. SoloPower estimates the project will create approximately 450 permanent jobs and 270 construction jobs.
The SoloPower Project uses innovative manufacturing technology to produce low-cost, high-efficiency PV cells based on copper, indium, gallium, and selenium (CIGS). The CIGS cells are packaged into flexible, lightweight solar modules that, when deployed, result in the reduction of greenhouse gas emissions. In addition, the modules require less hardware and are easier to install than traditional solar panels. DOE's Loan Programs Office has issued loans or loan guarantees, or offered conditional commitments for loan guarantees totaling nearly $40 billion to support 41 clean energy projects across the United States. See the DOE press release and Loan Programs Office website.