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Loan Guarantees for Three California PV Solar Plants Expected to Create 1,400 Jobs

June 30, 2011 - 2:29pm


Building on the momentum of our SunShot Initiative, Secretary Chu announced nearly $4.5 billion in conditional loan guarantees to three California photovoltaic solar power plants today.  These projects are expected to create 1,400 jobs in California and hundreds along the PV module supply chain across the country.

The package includes conditional commitments for:

  • A $680 million loan guarantee to support the Antelope Valley Solar Ranch 1 project, approximately 80 miles north of Los Angeles, California;
  • Partial loan guarantees of $1.88 billion in loans to support the Desert Sunlight project, in eastern Riverside County, California; and
  • Partial loan guarantees of $1.93 billion in loans to support the Topaz Solar project, located in eastern San Luis Obispo County, California.

The company First Solar, Inc., headquartered in Tempe, Arizona, is sponsoring all three projects and will supply them with Cd-Te thin film solar PV modules -- also known as solar panels -- from a new Mesa, Arizona, manufacturing plant as well as from their recently expanded Perrysburg, Ohio, manufacturing plant.

All in all, these solar projects will produce 1330 Megawatts of installed solar power -- enough electricity to power about 275,000 homes.