08/08/2011

DOE Finalizes a $967 Million Loan for Arizona Solar Project

 
DOE-Solar-Project

U.S. Energy Secretary Steven Chu today announced that the Department of Energy finalized a $967 million loan guarantee to Agua Caliente Solar, LLC.  The loan guarantee will support the construction of the Agua Caliente Solar project, a 290-megawatt photovoltaic solar generating facility in Yuma County, Arizona. The project sponsor, NRG Solar LLC, estimates the photovoltaic generation facility will fund approximately 400 construction jobs and 10 full time operating jobs, and will be one of the largest plants of its kind in the world when completed. 

“The Agua Caliente Solar project will bring hundreds of jobs to Arizona, while helping increase the reliability of renewable solar power,” says Secretary Chu. "Today’s announcement, in addition to several recent offers of conditional commitments for loan guarantees to solar manufacturing and generation projects, demonstrates the Administration’s ongoing commitment to creating clean energy jobs while bringing innovative renewable energy technologies to the market."

The Agua Caliente Solar project will deploy fault ride-through and dynamic voltage regulation, innovative technologies that are new to photovoltaic solar power plants in the United States.  These technologies will improve the reliability and predictability of the electricity supplied to the electricity grid. 

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