Recent Renewable Federal Loan Guarantees
- May 9, 2011 7:20 am GMT
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The Department of Energy has provided some juice to the renewable industry. Here is a list of recent action source:
- DOE announced on April 18 its offer of a conditional commitment for a $2.1 billion loan guarantee to support Units 1 and 2 of the Blythe Solar Power Project, sponsored by Solar Trust of America, LLC. The concentrating solar thermal power plant includes two units with 484 megawatt (MW) of generating capacity.
- U.S. Energy Secretary Steven Chu today announced the offer of a conditional commitment for a $1.187 billion loan guarantee to support the California Valley Solar Ranch project, sponsored by SunPower Corporation. The project, which is being built in San Luis Obispo County, CA, includes the construction of a 250 megawatt alternating current photovoltaic (PV) solar generating facility and associated infrastructure.
- The U.S. Department of Energy finalized $1.6 billion in loan guarantees to support the Ivanpah Solar Energy Generating System, three related utility-scale concentrated solar power plants. The Recovery Act funded project, sponsored by BrightSource Energy, Inc., will be located on federally-owned land in the Mojave Desert in southeastern California, near the Nevada border, and will be one of the world’s largest concentrated solar power complexes.
- U.S. Energy Secretary Steven Chu announced the offer of a conditional commitment to Record Hill Wind LLC for a $102 million loan guarantee. The loan guarantee will support the Record Hill wind project, which includes a 50.6 megawatt wind power plant and an eight mile transmission line and associated interconnection equipment near the town of Roxbury, Maine.
- Energy Secretary Steven Chu announced that the U.S. Department of Energy finalized a $96.8 million Recovery Act supported loan guarantee to a project sponsored by U.S. Geothermal, Inc. to construct a 23 megawatt (net) geothermal power project in Malheur County, in southeastern Oregon.
- U.S. Energy Secretary Steven Chu announced the offer of a conditional commitment to Agua Caliente Solar, LLC for a loan guarantee of up to $967 million. The loan guarantee will support the construction of a 290-megawatt photovoltaic solar generating facility located in Yuma County, Arizona that will use thin film solar panels from First Solar, Inc. The project sponsor, NRG Solar, estimates the project will be the largest photovoltaic generation facility in the world when it is completed.
- U.S. Energy Secretary Steven Chu announced the offer of a conditional commitment to Diamond Green Diesel, LLC, the proposed joint venture between Valero Energy Corporation and Darling International Inc., for a $241 million loan guarantee. The loan guarantee will support the construction of a 137-million gallon per year renewable diesel facility in Norco, Louisiana, about 20 miles west of New Orleans.
- Energy Secretary Steven Chu today announced a $17.1 million loan guarantee has been finalized for the AES Westover facility. The loan guarantee will support the construction of a 20 megawatt (MW) energy storage system using advanced lithium-ion batteries. The AES project, located in Johnson City, New York, will help provide a more stable and efficient electrical grid for the state’s high-voltage transmission network.
- U.S. Energy Secretary Steven Chu announced a $1.45 billion loan guarantee has been finalized for Abengoa Solar Inc.’s Solana project, the world’s largest parabolic trough concentrating solar plant. Located near Gila Bend, Arizona, the 250-megawatt (MW) project is the first large-scale solar plant in the United States capable of storing energy it generates.
- U.S. Energy Secretary Steven Chu announced that a partial loan guarantee for a $1.3 billion loan has been finalized to support the world’s largest wind farm. The loan will finance the Caithness Shepherds Flat project, an 845-megawatt wind generation facility located in eastern Oregon sponsored by Caithness Energy, LLC and GE Energy Financial Services