Feds Rush Through Another $5 Billion in Solar Energy Loans

The deals announced Friday include a $1.5 billion loan guarantee to Florida-based NextEra Energy and other investors that bought a planned 550-megawatt solar farm on federal land in Southern California from First Solar, as well as $646 million to Illinois-based Exelon Corp. for a 230-megawatt solar plant near Los Angeles. Next Era Energy Resources and GE Energy Financial Services bought the Desert Sunlight project from First Solar, while Exelon bought the Antelope Valley project. First Solar will continue to build and operate both projects.

A third project, worth $1.2 billion, will help San Jose-based SunPower Corp. build a 250-megawatt solar plant in California, while $1.4 billion will go San Francisco-based Prologis Inc. to support installation of about 750 solar rooftop panels in 28 states.

The loan program expires on Friday.

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