30 Aug '11, 2pm

250MW Genesis Thermal Solar Gets $852M DOE Loan Guarantee: The DOE clearly has a crush on concentrating solar

250MW Genesis Thermal Solar Gets $852M DOE Loan Guarantee: The DOE clearly has a crush on concentrating solar

Parabolic Trough -- recently a 500-megawatt trough plant that Solar Trust had been planning in Blythe, California converted to photovoltaic panels . That is one of several CSP plants that flipped to photovoltaics. This is not an indictment of solar trough technology but more a judgment of the financing being brought to bear. NextEra, with 2010 revenues of more than $15 billion and nearly 43,000 megawatts of generating capacity, has immense financial resources and access to lower cost money. Although NextEra is also in the process of switching the Beacon solar project from trough to photovoltaics -- so they have some experience in this technology pivot. Unlike most of the recipients of DOE loan guarantees which are, in fact, actual loans, this financing is truly a loan guarantee under the Financial Institution Partnership Program (FIPP) program. The lender in this case is C...

Full article: http://www.greentechmedia.com/articles/read/250mw-genesis...

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