Largest-ever solar PV project closes $967m loan

The US Department of Energy (DOE) has finalized a $967-million loan guarantee to Agua Caliente Solar to support the construction of a 290-megawatt (MW) photovoltaic solar generating facility in Yuma County, Arizona.

Sponsored by NRG Solar, the Agua Caliente Solar project will use thin-film solar panels manufactured by First Solar and will be one of the largest plants of its kind in the world when completed

The Agua Caliente Solar project will deploy fault ride-through and dynamic voltage regulation, innovative technologies that are new to photovoltaic solar power plants in the US. These technologies are aimed at improving the reliability and predictability of the electricity supplied to the power grid. Energy generated by the project will be purchased by Pacific Gas & Electric Company (PG&E).

With the closing of the loan guarantee, NRG Energy also completed its acquisition of the Agua Caliente project from First Solar. The project is expected to be completed in 2014.