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Liberty Interactive Invests $300 Million in Abengoa Solar Plant

Abengoa SA, a Spanish power plant developer, said it obtained $300 million for a solar thermal project from Liberty Interactive Corp., a U.S. video and internet company.

The funds will go for the $2 billion Solana project that Abengoa is developing in Gila Bend, Arizona. The project is a 280 megawatt facility that works with parabolic trough technology.

It will be the largest project using that technology and the biggest in the U.S. with the capacity to store energy for use at night. The U.S. Department of Energy already has extended a $1.45 billion loan guarantee for the project, which now is in its final testing phase.

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