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Loans

April 11, 2011
The Department of Energy’s $1.6 billion loan guarentee will support Bright Source’s Ivanpah Solar Energy Generating System. | courtesy of Bright Source
Department Announces Loan Guarantee for BrightSource Energy Inc.

The Department of Energy has finalized a $1.6 billion loan guarantee with the California company BrightSource Energy, Inc. to complete the construction of three concentrated solar power plants. A projected that is projected to create more than 1,000 jobs and, once operational, will produce enough solar energy to power 85,000 homes a year.