SOURCE: Industrial Info Resources

Industrial Info Resources

July 09, 2010 05:10 ET

Two Solar Firms Nab $1.85 Billion in ARRA Loan Guarantees, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - July 9, 2010) -  Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- The sun is shining a little brighter for two solar power companies after they were selected last week to receive $1.85 billion in federal loan guarantees under the American Recovery and Reinvestment Act (ARRA). Abengoa Solar Incorporated (Denver, Colorado), a unit of Abengoa S.A. (MCE:ABG) (Seville, Spain), will receive $1.45 billion in loan guarantees to build Solana, which is a 280-megawatt concentrating solar-power (CSP) generating station near Gila Bend, Arizona. Solana will be one of the world's largest CSP generators. The facility's electricity will be purchased by Arizona Public Service, a division of Pinnacle West Capital Corporation (NYSE:PNW) (Phoenix, Arizona).

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