Solar Trust of America LLC says its development subsidiary, Solar Millennium LLC, has received a draft term sheet for a loan guarantee from the U.S. Department of Energy (DOE) for the Blythe Solar Power Project in California under its 1705 program.
According to the company, the draft term sheet is an important financial milestone in the realization of what will be the world's largest solar facility and a significant catalyst to the development of a manufacturing supply chain for solar thermal technology in the U.S.
Blythe is fully permitted for up to four 250 MW plants that together will deliver 1 GW of renewable generating capacity to the grid. The draft term sheet corresponds with the development of the first two of four power plants.
SOURCE: Solar Trust of America LLC