DOE Crams $6B in Loan Guarantees in Last Week of Fed Fiscal Year

DOE Crams $6B in Loan Guarantees in Last Week of Fed Fiscal Year Solyndra notwithstanding, the Obama Administration continues its support for solar energy projects, and rightly so. As Secretary Chu recently said, there is no reason to concede the solar race to China or Germany. And Green Jobs continue to be created at a rate that outpaces any other industry.

Several project received billion-dollar loan guarantees:

  • $1.46 billion for the he 550-Megawatt Desert Sunlight Solar Farm, near Desert Center, CA. The project, started by FirstSolar, was sold to NextEra Energy, and will create over 600 green construction jobs. The project, still managed by First Solar under contract, will generate enough energy to power 160,000 homes.
  • $1.4 Billion for the 752-Megawatt Rooftop Project Amp. NRG Energy, the lead investor, will install solar panels on the rooftops of 750 buildings in 28 states, owned and managed by real estate company Prologis. The project will create over 1,000 construction jobs for 4 years.
  • $1.237 billion the 250-megawatt California Valley Solar Ranch Project. Located in San Luis Obispo County, CA, and sponsored by SunPower, the solar photovoltaic project will create 350 construction jobs, and power 64,000 homes.
  • $646 million for the 230-Megawatt Antelope Valley Solar Ranch One, in North Los Angeles County, CA. The project, also started by FirstSolar, was sold to Exellon, and will be managed by First Solar. The project will create 400 green construction jobs and 15 permanent operations jobs, and power 75,000 homes.
  • Other projects include:
    • A $737 million loan guarantee for the solar thermal project in Crescent Dunes, Nevada.
    • A $337 million loan guarantee to Mesquite Solar 1, located in Maricopa County, Arizona. The project will create 300 construction jobs.
    • A $132.4 million loan guarantee to Abengoa Bioenergy for a commercial-scale cellulosic ethanol plant. The project will will create 300 construction jobs and 65 permanent jobs.