SolarReserve has received a conditional commitment for a $737 million loan guarantee from DoE to build a 110 MW 24 hour a day solar thermal plant in Tonopah, NV.
Solar thermal creates power by using heliostats to focus the sun at a central receiver and stores energy for future use in molten salt. Thus, this plant will be able to produce power 24/7, day or night, with no fossil fuels required.
“a $737 loan guarantee” – oh my, where will they get all that money? lol.
The article says $737 million. 😉
Fixed. Thx!