Solar energy project closes on financing

SolarReserve, a portfolio unit of US Renewables Group, closed financing for the 110 MW Crescent Dunes Solar Energy Project to be built in Nevada.

The U.S. Department of Energy finalized a $737 million loan guarantee September 28 to help finance the project.

The Crescent Dunes plant will be one of the first plant¹s to use a commercial-scale solar power tower with fully-integrated molten salt energy storage. The plant is expected to begin operations in 2013.

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