Oakland-based BrightSource Energy is reportedly the beneficiary of a $1.37 billion federal boost for its planned solar-thermal plant in Southern California.
The New York Times reports today that it’s the biggest loan guarantee so far for a single solar project and that the Ivanpah array would be the largest of its type, potentially generating 2,600 megawatts of power for PG&E and SoCal Edison. The loan guarantee does not mean that the project is fully funded but federal loan guarantees are considered a potent inducement for investors.
The California Energy Commission has a chart of all solar projects currently under consideration, on its website. The CEC lists 28 solar-thermal projects and another dozen or so utility-scale photovoltaic arrays either announced, approved, or currently under review.