Solar energy project awarded loan guarantee

The U.S. Department of Energy (DOE) finalized a $737 million loan guarantee to help finance the 110 MW Crescent Dunes Solar Energy Project in Nevada.

The project is sponsored by Tonopah Solar, a unit of SolarReserve and it will use SolarReserve’s concentrated solar power technology. Operations are expected to begin in late 2013. NV Energy (NYSE: NVE) signed a long-term power purchase agreement for the output in 2010.

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