U.S. Issues Loans for the First Nuclear Reactors in 3 Decades
Last Thursday, Energy Secretary Ernest Moniz issued approximately $6.5 billion in loan guarantees for two new nuclear plants in Waynesboro, Georgia. The reactors will be the first new nuclear facilities in about thirty years. The loan guarantee is intended for the development of a pair of 1,100 megawatt- Westinghouse AP1000 nuclear reactors at the Alvin W. Vogtle Electric Generating Plant. The total project will cost more than $14billion. The two new reactors are expected to be online in 2017 and 2018.
Suzlon Pondering Foreclosure on Illinois Wind Farm
Suzlon Energy Ltd., the fifth-largest turbine maker, said it expects to recover about $90 million, less than half the amount it supplied to Edison Mission Energy’s Big Sky wind farm in 2009 to finance 240 MW of machines. Bankrupted Edison Mission is now in talks with Suzlon to trade ownership of the farm in exchange for waiving the $228 million loan due in October. Suzlon currently needs cash after running up debt through acquisitions before turbine prices slumped globally.
U.S. Approves 550 MW of First Solar PV Projects
550 MW worth of new PV projects have been approved by the U.S. Department of Interior giving First Solar the freedom to build the projects on agreed-upon public land. The approved projects include the 300 MW Stateline Solar Farm Project in San Bernardino County and the 250 MW Silver State South Solar Project in Nevada. The San Bernardino project will cover about 682 hectares while the Nevada development will cover more than 971 hectares.
World Bank Changes Financing Model for Inga 3 Hydropower Plant
According to reports from watchdog group International Rivers, the World Bank withdrew a $73 million International Development Association grant for the development of the 4,800 MW Inga 3 hydropower project and has switched the project set-up from public sector to a private sector. The grant for this project was supposed to have been approved by its board of directors earlier this month. Instead, the World Bank will now work toward a private investment deal via the International Finance Corporation.
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