July 3, 2010 by staff
Abengoa Solar — TopPayingIdeas — The Spanish company Abengoa Solar has been granted a form $ 1.45 billion loan guarantee from the U.S. Department of Energy. The renewable energy company aims to build a 250 megawatt solar plant in Arizona.
The new solar plant will be located 70 miles from Phoenix and benefits and approximately 70,000 households. Now they have got the loan, they will start construction this year and should start running in the 2013 mid-year. Energy will be sold to the SPA are 30-year-deal.
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