BrightSource Energy Inc. of Oakland won $1.37 billion in federal loan guarantees Monday to build solar power plants in the Mojave Desert, becoming the latest Bay Area green-tech company to receive major financial backing from the U.S. government. The money will help BrightSource build the Ivanpah Solar Electric Generating System, a collection of three solar-thermal power plants that will use mirrors to focus sunlight and generate electricity. Together, the three plants near the Nevada border will produce enough power for 140,000 homes.
Fed Guarantee Helps BrightSource Energy Plan
San Francisco Chronicle