Announcement for Loan Guarantee
The agency said for loan guarantees for three California solar projects, LOS ANGELES (AP) The Department of Energy has announced nearly $4.5 billion in conditional commitments. The announcement includes $1.88 billion for the Desert Sunlight project in Riverside County, $680 million for the Antelope Valley Solar Ranch in Los Angeles County and $1.93 billion loans for the Topaz Solar project in San Luis Obispo County. The partial loan guarantees and specific conditions of the loan guarantees are vary by project but can include such requirements.
According to the department the three projects combined are expected to generate approximately 1,330 megawatts of installed solar power and create 1,400 jobs. To support 40 clean energy projects across the country, the awards have administered through the Department of Energy’s loan programs which have provided over $38 billion. The leader of the push toward solar energy was California. The Department of Energy has pledged a $2.1 billion loan guarantee to support the estimated cost of the plant that reaches $4 billion.
The next phase of construction on the nearly $2 billion Ivanpah project located in eastern San Bernardino County has approved by the U.S. Bureau of Land Management. It is about five miles from the Nevada border.
