USD$1.2 billion DOE loan guarantee offered to MSP14. September 2011 | Applications & Installations, Industry & Suppliers | By: Becky Stuart
The U.S. Department of Energy (DOE) has offered a USD$1.2 billion loan guarantee to Abengoa for the development of its 280 megawatt (gross) concentrating solar power (CSP) project.
When complete, the Mojave Solar Project (MSP), located in San Bernardino County, California, is projected to increase the U.S.’ installed CSP capacity by around 50 percent.
In a statement issued by Abengoa, total investment will reach approximately USD$1.6 billion. With construction already underway, the project is scheduled to be online by 2014.
It is hoped over 830 construction and 70 permanent jobs will be created. Electric utility PG&E has signed a power purchase agreement to buy the generated power over a period of 25 years.
According to a statement released by DOE, around 80 percent of total costs, including capital equipment and labor, are expected to be sourced in the U.S.
"MSP will purchase all of the receiver tubes from a facility in New Mexico, the parabolic trough mirrors from a new facility in Arizona and other key equipment from different suppliers in several states across the country," it said.
Abengoa is said to be currently building 1,010 MW of solar plants. The MSP, when completed, will be Abengoa’s 16th CSP plant.
Choose between a digital and print subscription from pv magazine publisher Solarpraxis AG’s online shop!
- 2818 views
- 2788 views
- 2713 views
- 2481 views
- 2366 views
Opinion & analysis
Why do so many believe MENA is the next big solar market?, asks Yassir Gamil, managing director of Solarpraxis' new MENA office
Want to publish your press releases for free? Simply log in or register, enter the information you want to appear and we'll publish it for you!