Solar project wins conditional loan guarantee

The 150 MW first phase of the planned 700 MW Mesquite solar energy plant in Arizona received a $359.1 million conditional loan guarantee from the U.S. Department of Energy.

Construction is scheduled to begin in 2011 and is scheduled for completion by 2013. The cost of the entire 700 MW of capacity is expected to be $2 billion.

Power from the project will be sold to Pacific Gas & Electric Co. under a 20-year power purchase agreement.

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