Tenaska Launches Solar Power Development

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Researched by Industrial Info Resources (Sugar Land, Texas)--Tenaska Incorporated (Omaha, Nebraska) subsidiaries Tenaska Solar Ventures and CSolar Development LLC are attempting to raise funds for a pair of large solar photovoltaic power facilities in Imperial County, California. The group has been encouraged by the U.S. Department of Energy's recently making available $6 billion in federal loan guarantees for renewable energy projects.

Abengoa Solar Incorporated (Lakewood, Colorado), a subsidiary of Abengoa SA (Seville, Spain), is developing the 280-megawatt (MW) Solana Solar Generating Station planned for construction near Gila Bend, Arizona. The company has been selected by the Department of Energy for $1.5 billion dollars in conditionally committed loan guarantees for this solar power project.

Tenaska, in the hopes that the federal loan guarantees will be extended during the lame duck session or after the new Congress begins session in January, is seeking additional funding and proceeding with development for solar construction by the end of 2011 on the company's California solar projects.

Renewable solar projects being developed in the southwestern U.S. consist of photovoltaic, solar tower and solar thermal technologies, all of which qualify for renewable loan guarantees. Solar development companies are jockeying for the loan guarantees to move their projects forward to construction. The renewable loan guarantees make obtaining a power purchase agreement from a utility company and loans from investors, banks or the U.S. Department of Energy much easier.

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