Mojave Solar receives $1.2bn loan for US solar project

14 September 2011 (Last Updated September 14th, 2011 18:30)

The US Department of Energy has awarded Mojave Solar a loan guarantee of $1.2bn to support the completion of 250MW Mojave Solar Project in California, US. Electric utility PG&E will purchase the power generated from the plant, under the terms of a 25-year power purchase agreement.

The US Department of Energy has awarded Mojave Solar a loan guarantee of $1.2bn to support the completion of 250MW Mojave Solar Project in California, US.

Electric utility PG&E will purchase the power generated from the plant, under the terms of a 25-year power purchase agreement.

The company will purchase receiver tubes, parabolic trough mirrors and other key equipment from different suppliers located in the country.

Upon completion, the plant is expected to provide power to 54,000 homes and create a reduction of more than 350,000t of carbon dioxide emissions annually.