DOE Backs $1.4B In Loans For Calif. Solar Power Plant

Law360, New York (February 23, 2010, 1:20 PM EST) -- The U.S. Department of Energy has conditionally committed $1.37 billion in loan guarantees to BrightSource Energy Inc. to support financing for a large-scale commercial solar thermal power plant in California, which is expected to double the amount of solar energy produced in the U.S.

The DOE announced the conditional commitment Monday, which BrightSource hailed as a “key milestone” in the development of its Ivanpah Solar Electric Generating System, California's first large-scale commercial solar thermal plant in nearly two decades.

“I am very happy to see utility-scale...
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