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February 23, 2010

Energy Department OKs Loan Guarantee for Solar Power Plant in California
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The Department of Energy has offered a $1.4 billion loan guarantee to a
California company planning to build a large-scale solar power plant in
the Southern California desert. The loan guarantee would go to a company
called Bright Source Energy, which is backed by Google, Morgan Stanley,
Chevron and BP. The solar plant will be built by Bechtel. The loan
guarantee is the largest ever given by the Energy Department for a solar
power project, but it is just one-sixth of the size of the $8.3 billion
loan guarantee pledged by the department last week for the construction
of two nuclear reactors in Georgia.



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