Abengoa Gets $1.2 Billion Loan Guarantee for Solar Project
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Abengoa SA, a Spanish power-equipment maker, received a $1.2 billion loan guarantee from the U.S. Energy Department to build a 250-megawatt solar-thermal power plant in southern California.
When complete, the Mojave Solar Project in San Bernardino County will increase the amount of solar-thermal energy capacity in the U.S. by 50 percent, the department said today in a statement. PG&E Corp. will buy its electricity under a 25-year contract.