.An Arizona solar-power project owned by NRG Energy and developed by First Solar has secured a $967 million U.S. Department of Energy loan guarantee, The Wall Street Journal reports. First Solar, which began construction late last year, agreed to sell the project to NRG for an undisclosed amount in December.
The purchase by NRG, which will invest $800 million of equity in the project, was subject to receiving the loan guarantee. PG&E’s California utility has inked a long-term deal to buy the electricity generated from the facility.
Click here for the story from The Wall Street Journal.
Click here for additional coverage from Reuters.