SolarReserve Earns $700 Million Loan Guarantee, Creates Jobs in Nevada

SolarReserve, a Santa Monica, California based developer of large-scale solar power projects, has announced that it has closed financing for the 110 MW Crescent Dunes Solar Energy Project, to be built near Tonopah, Nevada.

The project is being constructed on federal land operated by the Bureau of Land Management and has been financed by both private and federal means. Investors include ACS Cobra and the equity capital practice of Santander, a global financial services and banking leader. The project also closed on a 7 million loan-guarantee from the U.S. Department of Energy.