SunPower gets $1.2B conditional commitment to start construction

04/12/2011 | Bloomberg

California-based SunPower Corp., a solar panel manufacturer, has received a conditional $1.2 billion loan guarantee from the Energy Department for the construction of the 250-megawatt California Valley Solar Ranch plant. The plant is owned and financed by NRG Solar, and Pacific Gas and Electric will purchase its power output. The project will begin generating electricity in the latter half of 2011 and reach full capacity in 2013.

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