BrightSource Closes Financing for the Ivanpah Project
Yesterday, we announced that we closed financing for our Ivanpah SEGS project. This includes finalizing $1.6 billion in loans guaranteed by the U.S. Department of Energy’s Loan Programs Office and the addition of Google’s $168 million equity investment in the project
The DOE funds received will be used to facilitate the debt portion of the funding for the construction of the Ivanpah project. Google’s equity investment follows NRG Solar LLC’s investment of $300 million in the project. With this investment, NRG is the lead investor in the project and will also be responsible for operations and maintenance of the plant once it is complete.
We continue to move forward with construction at Ivanpah. We’ll be posting additional pictures in the coming days. Stay tuned.