30 Aug '11, 7pm

DOE Loan Guarantee Anchors Financing Package For 250 MW Genesis Plant: by Jessica Lillian on Tuesday 30 August 2...

DOE Loan Guarantee Anchors Financing Package For 250 MW Genesis Plant: by Jessica Lillian on Tuesday 30 August 2...

Large concentrating solar power (CSP) plants in the deserts of the U.S. Southwest have run into their fair share of obstacles lately, with project delays and financeability problems prompting some developers to convert high-profile in-progress projects to PV technology. However, at least one CSP developer reports good news this week: Genesis Solar, a subsidiary of NextEra Energy Resources, has finalized $935 million in construction and term financing for its 205 MW CSP plant under development in Riverside County, Calif. Electricity from the project will be sold to Pacific Gas & Electric under a power purchase agreement signed in October 2009 . The centerpiece of the finance deal is an 80% loan guarantee that the U.S. Department of Energy (DOE) supplied to lender-applicant Credit Suisse via the DOE's Financial Institutes Partnership Program under the Energy Policy Act. Priv...

Full article: http://solarindustrymag.com/e107_plugins/content/content....

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