Skip to comments.California solar project wins $2.1B in federal loans
Posted on 04/19/2011 6:14:15 AM PDT by thackney
For the third time in a week, the federal government on Monday threw its financial support behind a Bay Area company planning to build big solar power plants in California.
Solar Trust of America, based in Oakland, won a $2.1 billion conditional loan guarantee from the U.S. Department of Energy to build two solar thermal plants near the desert town of Blythe in Riverside County.
The two plants represent the first phase of a larger project that could one day be the worlds largest solar array, generating up to 1,000 megawatts of electricity and powering 300,000 homes.
The award is the departments biggest yet for a solar project. Last week, the department announced a $1.2 billion conditional loan guarantee for SunPower Corp. of San Jose and finalized terms for a $1.6 billion loan guarantee for Oaklands BrightSource Energy Inc.
Like Solar Trust, both BrightSource and SunPower are developing solar plants that will help California reach its goal of getting one-third of its electricity from renewable sources by the end of 2020. The loan guarantees will help the companies line up private financing for their projects.
We can either sit on the sidelines and watch the competition pass us by, or we can get in the race and play to win, said U.S. Energy Secretary Steven Chu, announcing the Solar Trust agreement Monday.
Solar Trust is the American joint venture of two German companies, ...
The Blythe projects first phase, estimated to cost $2.8 billion, will consist of two solar-thermal power plants producing up to 242 megawatts apiece. Preliminary construction began late last year.
The plants will use mirrors, shaped into troughs, to concentrate sunlight on tubes filled with a heat-conducting oil. The tubes will transfer that heat to water, creating steam, turning turbines and generating electricity.
(Excerpt) Read more at fuelfix.com ...
Just curiously, where’s this place in relation to the fault line?
“For the third time in a week, the federal government on Monday threw its financial support behind a Bay Area company planning to build big solar power plants in California.”
Did the same in Massachusettes and the company took the money and skipped town.
Question, who is this company, who are the principle shareholders and where do they plan on producing the parts?
Blythe California is on I-10 at the Arizona border.
“Solar Trust is the American joint venture of two German companies, Solar Millennium AG and Ferrostaal Inc. Despite Solar Trusts European pedigree, the company estimates that its Blythe Solar Power Project will generate 7,500 jobs across the United States, both in building the power plant and supplying its parts and materials.”
Very creative writing. They are paying $2 Billion to produce 240 megawats when you could build a 2 coal plants and produce 2000 megawats.
More Green money laundering.
Pray for America
Day and NIGHT.
I grew up in Blythe. To my knowledge there are no major fault lines. Would be a good place to put nuclear plants too (Blythe is next to the Colorado River).
These are the same wonderful people that contributed to Spain’s experiment in Solar which eliminated 2.4 conventional jobs for every “green “ job created.
Just what we need.
The quake map you posted in concerning. I’ve been watching the Nevada quakes for the last week. Multiple quakes on a area not thought to have faults.
Why the hell are we paying (loaning) Germans 2 billion for some solar schemes? This is a criminal and would never happen under Donald Trump because he has America pride. He would see an American firm got the money if there any such project. Trump administration might refuse to fund such a boondoggle in the first place
More Obama traitors selling out Americans. With Obama it never gets any better. This is Energy Secretary Steven Chu’s doing who has dubious loyalty to America.
“For the third time in a week, the federal government on Monday threw its financial support behind a Bay Area company planning to build big solar power plants in California.
Solar Trust of America, based in Oakland, won a $2.1 billion conditional loan guarantee from the U.S. Department of Energy...”
—So we’re going broke, and the Dept. of Energy is running around making loan guarantees (for a German joint venture in this case) on solar projects that, even if successful, will produce less energy than coal and other resources.
Why the hell are we paying (loaning) Germans 2 billion for some solar schemes?
Better & Better.
This will certainly be good for American exports and export plenty of money.
Not only is Solar Trust German, but the other two companies they are giving guarantees to are also foreign. SunPower Corp ($1.2 billion)is Australian and Bright Source ($1.6 billion is Israeli.
EVERY ONE of these solar projects in California deserts is under constant attack by the enviros who are also funded by the Federal government.
It is a no-win game from the first serve & volley.
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