The sweltering heat that has hammered the East Coast for the better part of the week did not dry up the renewable energy deal flow, as some developers managed to clinch crucial funding. And as is often the case these days — especially in the cleantech and renewable energy sectors — Washington was the de facto deal maker. Hence, as we headed into the Fourth of July weekend, some $2 billion in Department of Energy loan guarantees supporting solar developers.
Of the $2 billion announced by the President, Spanish company Abengoa Solar got $1.45 billion for the construction of the 250 megawatt Solana Concentrating Solar Power (CSP) plant in Arizona. Colorado-based start-up Abound Solar also scored a $400 million guarantee to scale production of its thin-film, photovoltaic modules from a current 67 megawatts to nearly 1 gigawatt over the next three years. Read More »