As Solyndra Talk Quiets, DOE Issues $1 Billion In Solar Loans
September 29, 2011 by Sam Rolley
As headlines about the Department of Energy’s (DOE) backing of a now bankrupt solar firm cool down, the department announced on Wednesday that it has finalized about $1 billion in guarantees for two other solar projects.
The DOE announced a $737 million loan guarantee to help finance construction of the Crescent Dunes Solar Energy Project, a 110-megawatt solar-power-generating facility in Nye County, Nev. The project is sponsored by Tonopah Solar, a subsidiary of a California-based company called SolarReserve. DOE officials claim the loan will create 600 temporary construction jobs and 45 permanent jobs in the area.
“If we want to be a player in the global clean energy race, we must continue to invest in innovative technologies that enable commercial-scale deployment of clean, renewable power like solar,” said Energy Secretary Steven Chu in a press release. “Solar generation facilities, like the Crescent Dunes Solar Energy Project, help supply energy to local utilities and create hundreds of good, American clean energy jobs.”
The Energy Department also announced that it had finalized a separate $337 million loan guarantee to Sempra Energy for a 150-megawatt photovoltaic solar generation project in Arizona.
Solyndra, the now infamous government-backed solar panel manufacturer that shut down last month, is under investigation by the Department of Justice and several governmental wasteful spending committees.