SoloPower lands loan guarantee for solar plant
SoloPower said yesterday that it has conditional commitment from the U.S. Department of Energy for a $197 million loan guarantee to build a factory in Oregon.
The company plans to start construction of a plant in Wilsonville, Ore., in the second quarter of this year. Once operating, it will be able to turn out 400 megawatts worth of solar panels per year.
The move gives San Jose, Calif.-based SoloPower the financial wherewithal to expand beyond a smaller demonstration plant in San Jose. The company has also gotten a loan and tax credits from the state of Oregon.
The … Read more
