Solar energy project awarded $337mn loan guarantee

The U.S. Department of Energy (DOE) finalized a $337 million loan guarantee to help finance the 150 MW Mesquite I solar photovoltaic power plant in Arizona.

The project, owned by Sempra Energy (NYSE: SRE), will use solar panels made by China-based Suntech Power (NYSE: STP) in Arizona. The total project is expected to be 700 MW and cost $2 billion.

Construction is expected to begin in 2011 and be competed by 2013. Pacific Gas & Electric Co. (NYSE: PCG) signed a 20-year power purchase agreement for the output from the plant.

Read more solar energy news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...