Energy Department approves $1 billion in solar energy loan guarantees

Andrew Restuccia
The Hill

The Energy Department announced Wednesday that is has finalized more than $1 billion in loan guarantees for two separate solar energy projects.

The decision comes several weeks after Solyndra, a California-based solar manufacturer that received a $535 million loan guarantee from the Obama administration in 2009, filed for bankruptcy and laid off 1,100 workers, setting off a firestorm in Washington.

DOE announced a $737 million loan guarantee to help finance construction of the Crescent Dunes Solar Energy Project, a 110-megawatt solar-power-generating facility in Nye County, Nev. The project is sponsored by Tonopah Solar, a subsidiary of California-based SolarReserve.

The Energy Department said the project will result in 600 construction jobs and 45 permanent jobs…

The article continues at The Hill.

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