$90m loan guarantee for Colorado solar power plant
The Department of Energy has finalized a $90.6 million loan guarantee for Cogentrix of Alamosa, LLC (Cogentrix), which is developing a concentrated solar power facility in Colorado.
The Alamosa Solar Generating Project will take the form of a 30 megawatt (MW) High Concentration Photovoltaic (HCPV) power generation facility that will generate clean, emissions-free power in south-central Colorado, near the city of Alamosa.
The facility will represent one of the first utility-scale, high concentration photovoltaic energy generation facilities in the nation and, when completed, the largest of its kind in the world.
North Carolina-based Cogentrix estimates the project will support up to 100 construction jobs.
“On Thursday, President Obama spoke about the need to continue creating the jobs of the future,” said US Energy Secretary Steven Chu. “And that’s exactly what today’s investment does – putting Americans to work right away and helping position us to win the global race for the clean energy industries of tomorrow.”
HCPV
The proposed facility will use innovative HCPV systems consisting of concentrating optics and multi-junction solar cell panels that are controlled by a dual-axis tracking system.
The tracking system rotates and tilts the cells throughout the day so the surface of the solar panel maintains an optimal angle with respect to the sun.
Cogentrix estimates the multi-junction solar cells are nearly 40 percent efficient, which is about double that of more traditional PV panels, making concentrated photovoltaic technology advantageous in areas with high amounts of direct sunlight, such as Alamosa County.
The facility is expected to produce enough clean renewable energy per year to power more than 6,500 homes and will avoid the emissions of over 43,000 metric tons of carbon dioxide per year.
The Alamosa Solar Generating Project is supported by a power purchase agreement (PPA), which is a long-term agreement to sell the power it will generate.
Under the project’s PPA, the Public Service Company of Colorado will buy the power generated by the solar facility for the next 20 years. The project is also expected to source more than 80 percent of its components from the United States.
$90m loan guarantee for Colorado solar power plant | BrighterEnergy.org
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