The board of directors of the Overseas Private Investment Corp. (OPIC) has approved a $250 million loan to Negev Energy-Ashalim Thermo-Solar Ltd. to support construction of the 110 MW Negev Energy-Ashalim concentrated solar power (CSP) project in Israel's Negev Desert.
This will be the first CSP facility to receive funding support from OPIC, the U.S. Government's development finance institution. OPIC says the loan supports the Obama Administration's renewable energy goals, as well as Israel's commitment to diversify its electricity generating capacity beyond fossil fuels.
‘This project advances one of OPIC's key strategic priorities to support the development of renewable resources, and also uses an innovative solar technology,’ says Elizabeth Littlefield, OPIC's president and CEO." The concentrated solar power design used for this plant is exciting, cutting-edge technology that can dramatically increase power generation.’