DOE Announces Nearly $1.4 Billion in Conditional Loan Guarantees for BrightSource Energy
Energy Secretary Steven Chu announced conditional commitments for more than $1.37 billion in loan guarantees under the American Recovery and Reinvestment Act to BrightSource Energy Inc. to support the construction and start-up of three utility-scale concentrated solar power plants. The new plants will generate approximately 400MW of electricity. This would nearly double the existing generation capacity of this type of renewable energy in the U.S. The three-plant Ivanpah Solar Complex will be located on federally-owned land in the Mojave Desert in southeastern California near the Nevada border, and will be the world's largest operational concentrated solar power complex. Once operational, the project will supply clean electric power to approximately 140,000 California homes. Details
About the Author
Jim Lucy Blog
Chief Editor
Jim Lucy has been wandering through the electrical market for more than 30 years, most of the time as an editor for Electrical Wholesaling, Electrical Marketing newsletter and CEE News. During that time he and the editorial team for the publications have won numerous national awards for their coverage of the electrical business. He showed an early interest in electricity, when as a youth he had an idea for a hot dog cooker. Unfortunately, the first crude prototype malfunctioned and the arc nearly blew him out of his parents' basement. Before becoming an editor for Electrical Wholesaling magazine and Electrical Marketing, he earned a BA degree in journalism and a MA in communications from Glassboro State College, Glassboro, NJ., which is formerly best known as the site of the 1967 summit meeting between President Lyndon Johnson and Russian Premier Aleksei Nikolayevich Kosygin, and now best known as the New Jersey state college that changed its name in 1992 to Rowan University because of a generous $100 million donation by N.J. zillionaire industrialist Henry Rowan. Jim is a Brooklyn-born Jersey Guy happily transplanted in the fertile plains of Kansas for the past 20 years.