Solar photovoltaic project gains $967mn loan guarantee

The Department of Energy finalized a $967 million loan guarantee to Agua Caliente Solar LLC for construction of the 290 MW Agua Caliente solar photovoltaic (PV) project in Arizona.

The project, owned by NRG Solar LLC, will use thin-film solar panels from First Solar. Pacific Gas & Electric Co. will purchase power generated from the project through a 25-year power purchase agreement.

The project is expected to be completed by 2014.

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