SolarReserve gets conditional loan guarantee for CSP

SolarReserve has received a conditional $737m loan guarantee commitment from the Department of Energy to help finance a 110MW concentrating solar power (CSP) project featuring molten salt energy storage.

The company aims to begin construction on the Crescent Dunes Solar Energy Project in Tonopah, Nevada, this summer. The work is expected to take two and a half years.

California-based SolarReserve has a long-term power purchase agreement for the output of the solar power tower project with NV Energy.

A Department of Energy (DOE) loan guarantee can help developers obtain financing at rates that would not be available otherwise.

The company says this would be the largest molten salt power tower project in the world. “This solar technology is a…

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