The United States Department of Energy has announced that it will be offering the Abengoa Mojave Solar project outside Hinkley a conditional $1.2 billion federal loan. Once it is completed and fully operational, the 1,765-acre, 250 megawatt project will power up to 80,000 homes once it is completed. The project is designed to use parabolic solar trough technology, which tracks the sun and allows for storage.
A California Energy Commission committee has recommended approving BrightSource’s 392 megawatt project, the Ivanpah Solar Electric Generating System. When built, Ivanpah will be the world’s largest solar energy project, and will nearly double the amount of solar thermal electricity produced in the United States. BrightSource previously received a conditional commitment from the U.S. Department of Energy for $1.37 billion in loan guarantees to support the Ivanpah project financing.