Loan guarantees awarded to solar projects

The U.S. Energy Department awarded conditional loan guarantees worth $4.5 billion to three alternating current CadmiumTelluride (Cd-Te) thin-film solar photovoltaic (PV) projects that will use First Solar modules and inverters.

DOE awarded $680 million for the planned 230 MW Antelope Valley Solar Ranch 1 project. It awarded partial loan guarantees worth $1.88 billion to the 550 MW Desert Sunlight and $1.93 billion to the 550 MW Topaz Solar projects.

Pacific Gas & Electric Co. (NYSE: PGE) will buy the output from Antelope Valley, Topaz Solar and from the 300 MW Phase I of the Desert Sunlight project. Output from Desert Sunlight’s 250 MW Phase II will be sold to Southern California Edison (NYSE: SCE).

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