Energy Department Approves $1B in Solar Energy Loan Guarantees


Just wait until you see how many jobs this will produce (below)

thehill


The Energy Department announced Wednesday that is has finalized more than $1 billion in loan guarantees for two separate solar energy projects.

The decision comes several weeks after Solyndra, a California-based solar manufacturer that received a $535 million loan guarantee from the Obama administration in 2009, filed for bankruptcy and laid off 1,100 workers, setting off a firestorm in Washington.

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 California-based SolarReserve
.

The Energy Department said the project will result in 600 construction jobs and 45 permanent jobs.

The Crescent Dunes facility will generate power using concentrated solar power technology, in which a series of mirrors direct sunlight onto a receiver at the center of the plant.

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.

The project will result in 300 construction jobs, DOE said