Solar power plant receives federal loan

The U.S. Department of Energy on September 13 announced the department finalized a $1.2 billion loan guarantee to Mojave Solar LLC for the development of the 250 MW Mojave Solar Project (MSP) in California.

When complete, the solar generation project, owned by Abengoa Solar, will increase the nation’s currently installed concentrating solar power capacity by approximately 50 percent, according to DOE.

Pacific Gas & Electric (NYSE: PCG) signed a 25-year power purchase agreement for the output from the project.

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