The first solar power plant in the United States capable of storing its own energy will service around 70,000 consumers in Arizona, the energy secretary said.
U.S. Energy Secretary Steven Chu announced his department provided solar energy company Abengoa Solar with a $1.45 billion loan guarantee to build what's described as the largest solar power plant of its kind in the world.
"As today's announcement and other recent announcements of completed loan guarantees for wind and solar projects demonstrate, the department's loan program is gaining momentum, creating jobs in communities across the country while putting us on the path to a clean energy future," the secretary said in a statement.
The facility will produce enough energy to meet the demands of 70,000 households, the Department of Energy said.
The project company said the 250-megawatt facility "will include six hours of molten salt thermal energy storage capability, which will allow energy to be dispatched as needed during cloudy periods and after sunset."
Neither the Department of Energy nor Abengoa Solar gave any indication as to when the project would go commercial or when development would start.
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