DOE Awards $1B In Loan Guarantees To Solar Energy Cos.

Law360, New York (September 28, 2011, 2:55 PM EDT) -- The U.S. Department of Energy said Wednesday it had finalized $1 billion in loan guarantees to back solar projects in Nevada and Arizona, as the agency scrambles to meet a Friday deadline for greenlighting loans to renewable energy projects under a stimulus program.

The Energy Department has inked a $737 million loan guarantee to back SolarReserve LLC's Crescent Dunes solar power project near Tonopah, Nev., as well as a $337 million loan guarantee to Mesquite Solar 1 LLC to support a photovoltaic solar generating project near...
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