BrightSource Energy has issued a Full Notice to Proceed to Bechtel for the Ivanpah Solar Electric Generating Facility Project in Southern California after successfully achieving financial close for the project. This milestone culminates a four year effort by BrightSource to permit and fully fund the project, which is now financed with a combination of U.S. Department of Energy loans totaling $1.6 billion, and major equity investments in the project of $300 million from NRG Solar and $168 million from Google. Bechtel started engineering design for the project in August 2009 and mobilized to the field under a Limited Notice to Proceed in October 2010 when permits were received. Completion of the three solar plants totaling 392 megawatts is scheduled for 2013.
Bechtel Receives Full Notice to Proceed for Ivanpah Project
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