Department Of Energy Finalizes Loan Guarantee To 1366 Technologies

The U.S. Department of Energy (DOE) has finalized a $150 million loan guarantee to 1366 Technologies Inc. for the development of a multicrystalline wafer manufacturing project that the DOE believes could significantly drive down the costs of solar manufacturing.

The conditional commitment was announced in June.

The project will be capable of producing approximately 700 MW to 1,000 MW of silicon-based wafers annually using a manufacturing process called Direct Wafer. Phase I of the project will be located in Lexington, Mass., and is expected to fund 70 permanent jobs and 50 construction jobs.

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