US DOE approves USD-646m loan guarantee for California PV project
Oct 3, 2011 - The US Department of Energy (DOE) last week said it had finalised a USD-646-million (EUR 485m) loan guarantee for the 230-MW AV Solar Ranch 1 photovoltaic (PV) project in the state of California.
US utility Exelon Corp (NYSE:EXC) has recently acquired the project from solar module maker First Solar (NASDAQ:FSLR), which is building the plant and will operate it.
The Antelope Valley Solar Ranch 1 project will include First Solar's cadmium telluride (Cd-Te) thin film PV panels and is seen to produce some 622,000 MWh of electricity a year, enough to supply 54,000 households and offset 350,000 tonnes of carbon dioxide emissions. Utility Pacific Gas & Electric Co has signed a power purchase agreement to buy the electricity produced by the plant.