08 Aug '11, 2pm

Solar News: Mammoth Solar Plants Get Go-Ahead

Feds Fund Arizona Solar Power Plant The US Department of Energy finalized a $967 million loan guarantee for the 290 megawatt (MW) Agua Caliente Solar project, the world's largest solar photovotaic (PV) plant that's currently under construction. Located in Yuma County, Arizona the enormous solar plant will use thin film solar panels manufactured by First Solar, Inc. (Nasdaq: FSLR), which is developing the project. The closing of the loan guarantee is the final contingency in a purchase agreement under which NRG Energy (NYSE: NRG) acquired the project from First Solar for an undisclosed amount. The project has obtained all permits and approvals from both federal and state agencies, and is expected to create up to 400 solar jobs through its completion date in 2014. Electricity from Agua Caliente will be sold under a 25-year power purchase agreement to Pacific Gas and Electric...

Full article: http://www.sustainablebusiness.com/index.cfm/go/news.disp...

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