The U.S. Department of Energy (DOE) offered conditional loan guarantees for two concentrating solar power (CSP) projects in California. The Energy Department offered $1.2 billion to the 250 MW Mojave Solar Project and $681.6 million to the 250 MW Genesis Solar Project located on land managed by the Bureau of Land Management.
The Mojave Solar Project is owned by Abengoa Solar Inc. and will use parabolic mirrors. The Genesis Solar Project is owned by NextEra Energy Resources LLC (NYSE: NEE) and will use parabolic troughs. Pacifis Gas & Electric Co. (NYSE: PCG) will buy electricity from both projects.
