PROJECT SUMMARY
In August 2011, the Department of Energy issued an $852 million partial loan guarantee through the Financial Institution Partnership Program (FIPP) to finance Genesis, a 250-MW parabolic trough concentrating solar power (CSP) plant. It started commercial operations in April 2014.
TECHNOLOGY INNOVATION
Genesis utilizes parabolic trough solar collectors to concentrate sunlight to heat synthetic oil, which then heats water to create steam. The steam is piped to a steam turbine generator to produce electricity. The solar thermal technology will provide 100% of the power generated by the plant.
ECONOMIC IMPACT
Genesis created 800 construction jobs and is expected to support 47 permanent jobs.
CLIMATE BENEFIT
Genesis is expected to generate 605,000 megawatt-hours of clean energy and prevent 322,000 metric tons of carbon dioxide emissions annually.
PROJECT SUMMARY | Owner | NextEra Energy |
|---|---|---|
| Location | Riverside County, California | |
FINANCIAL SUMMARY | Loan Program | Title XVII |
Loan Type | Partial Loan Guarantee | |
Loan Amount 1 | $852 Million | |
Issuance Date | August 2011 | |
| ENERGY SUMMARY | Operation Status | Operating |
Generation Capacity | 250 MW | |
Projected Annual Generation 2 | 605,000 MWh | |
ECONOMIC IMPACT | Permanent U.S. Jobs Supported | 47 |
U.S. Construction Jobs Supported 3 | 800 | |
CLIMATE BENEFIT | CO2 Emissions Prevented Annually | 322,000 Metric Tons |
| NOTES | Loan fully repaid in December 2019. All information is up-to-date as of December 2019 and will not be further updated. 1 Approximate amount of the loan facility approved at closing including principal and any capitalized interest. 2 Calculated using the project's and NREL Technology specific capacity factors. For cases in which NREL's capacity factors do not encompass project's specific design and operation, project specific capacity factors are used. 3 Estimated at the time of closing. | |
PROJECT PHOTOS
