DOE Offers Loan Guarantee For SunPower’s 250 MW California Valley Solar Ranch

SunPower Corp., sponsor of the 250 MW California Valley Solar Ranch power plant, says that the project has been offered support via a conditional commitment for a loan guarantee of up to $1.187 billion from the U.S. Department of Energy (DOE). The project is under development in San Luis Obispo County, Calif.

NRG Solar, a subsidiary of NRG Energy Inc., will assume all ownership and financing responsibilities for the project, subject to certain conditions. SunPower will design, build, and initially operate and maintain the solar power plant.

Construction is expected to start in the second half of this year, contingent on permitting and financing, with a portion of the project expected to begin operations by the end of this year and the balance coming online in 2012 and 2013.

SOURCE: SunPower


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