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Fed Guarantee Helps BrightSource Energy Plan

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.

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San Francisco Chronicle