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Solar Plant To Be Built in Mojave Receives $1.2 Billion Loan Guarantee

Solar Plant To Be Built in Mojave Receives $1.2 Billion Loan Guarantee

6 years ago
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Photo courtesy of Abengoa Solar.

By Staff Reports

(Victor Valley)- – The U.S. Department of Energy has given another boost to big solar in California, finalizing the $1.2 billion federal loan guarantee for Abengoa Solar’s 250-megawatt (MW) Mojave Solar project, the department said Tuesday.

The concentrating solar power plant is expected to increase the amount of installed concentrating solar power capacity in the U.S. by 50 percent. The plant should supply enough electricity to power more than 54,000 homes. The power plant is being built on Harper Dry Lake near Hinkley, and will supply Pacific Gas & Electric.

Around 900 jobs are expected to be created in building the plant, which Abengoa hopes to have operating by 2014. And there will be plenty of indirect jobs as well, the DOE suggested.

The Department of Energy (DOE) Section 1705 program for renewable energy development has been under fire of late due to the Solyndra bankruptcy. However, the solar industry is on fire, thanks to the same collapse in prices that doomed Solyndra. The U.S. solar market doubled last year, and it’s expected to double again this year.

For more information on the U.S. Department of Energy Loan Program, visit http://lpo.energy.gov/

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