Abengoa Solar gets $1.45 billon loan from US

July 4, 2010 by admin · 4 Comments · 665 views
Filed under: Bussiness & Finances 

Spanish engineering and renewable energy company Abengoa SA (ABG.MC) continues to be granted a $1.45 billion loan guarantee from the U.S. Department of Energy to help building of the 250-megawatt solar plant in Arizona, the company said Saturday.

Subsidiary Abengoa Solar Inc. stated that the Solana plant, which is going to be 70 miles southwest of Phoenix, will produce sufficient energy to serve 70,000 households. Construction from the plant will start this year, Abengoa Solar Chief Executive Santiago Seage mentioned.

The plant is set to go onstream by mid-2013. Abengoa Solar has agreed to sell the energy made through the Solana plant to APS, the state’s largest electric utility, for 30 years.

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