Fotowatio PV project wins loan guarantee

The U.S. Department of Energy offered a $45.6 million loan guarantee to a 20 MW solar photovoltaic (PV) generating facility in Nevada. The plant is sponsored by Fotowatio Renewable Ventures Inc.

The Fotowatio PV solar generating facility will use more than 90,000 polycrystalline silicon modules attached to single-axis horizontal tracker technology. Power generated from the project will be sold to Nevada Power Co., a unit of NV Energy (NYSE: NVE).

The Fotowatio application was received by lender-applicant John Hancock Life Insurance under the Financial Institution Partnership Program (FIPP).

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