BrightSource Energy Inc., announced Monday that it has received $1.37 billion in loan guarantees to create three solar panels in the Mojave Desert. The Oakland CA based company, with big name investors like Google Inc. and BP will build the three plants on government-owned land on the Nevada-California border in an effort to produce 200 megawatts of power. That number, according to the state department would be sufficient to power 140,000 Nevada homes.
As of yet, financial regulatory approvals for the project, dubbed the Ivanpah Solar Complex, are still in the works. The completion of the complex would double the amount of solar energy being produced in the U.S. while breaking records for the biggest solar energy project in history. Beyond its environmental benefits, the construction will generate approximately 1,000 construction jobs and 86 permanent jobs.
Funding for the project seems more urgent with the administration concentrating on creating 17,000 more green jobs.
In a statement, Energy Secretary Steven Chu said, “we’re not going to sit on the sidelines while other countries capture the jobs of the future -- we’re committed to becoming the global leader in the clean energy economy.”
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