U.S. Energy Secretary Steven Chu recently announced the offer of a conditional commitment to Agua Caliente Solar LLC for a loan guarantee of up to $967 million. The loan guarantee will support the construction of a 290-megawatt photovoltaic solar generating facility located in Yuma County, Ariz., that will use thin film solar panels from First Solar Inc. Project sponsor NRG Solar estimates the project will be the largest photovoltaic generation facility in the world when it is completed.

“Solar projects like this are helping the U.S. to compete globally for the clean energy jobs of today and the future,” Chu said. “The Obama Administration is committed to bringing innovative renewable energy technologies to the market to support the country’s transition to a clean energy economy.”

According to NRG estimates, the Agua Caliente Solar project will create 400 construction jobs in addition to generating state and local tax revenues. The company anticipates the project will avoid approximately 237,000 metric tons of greenhouse gas emissions per year, equivalent to taking over 40,000 cars off the road annually. In addition, at full capacity, NRG estimates the project will also provide clean, emissions-free electricity for approximately 100,000 homes.

For additional details, visit http://lpo.energy.gov.