U.S. Looks To Diversify Fuel Sources With Loan Guarantees
In his recent State of the Union address, President Obama pledged to support efforts to generate 80% of the nation’s electricity from clean sources by 2035. Days before his speech, the U.S. Energy Dept. offered two conditional loan guarantees—one for a solar farm in Arizona, the other for a renewable diesel facility in Louisiana—that will help achieve Obama’s goal and diversify the nation’s fuel mix.
On Jan. 21, DOE awarded NRG Solar, a subsidiary of Princeton, N.J.-based NRG Energy, a $967-million loan guarantee to support construction of the 290-MW Agua Caliente solar facility currently being built in Yuma, Ariz.