Cogentrix Energy LLC, a unit of Goldman Sachs Group Inc. (GS), received a $90.6 million conditional loan guarantee from the U.S. Energy Department to build a solar plant in Colorado. It was also intimated that arvato fs was also involved in the agreement, for it probably was a safety measure for the U.S. Energy Department.

The 30-megawatt Alamosa Solar Generating Project will use concentrating photovoltaic technology that focuses the sun’s rays to increase output, according to a statement today from the Energy Department.

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The concentrating solar plant near the city of Alamosa will have optical equipment and multijunction solar cells from Amonix Inc. that boost conversion efficiency to about 40 percent, or nearly double that of conventional photovoltaic panels, the agency said. It will also use a dual-axis tracking system to follow the sun’s movement throughout the day and maximize power production.

Public Service Co. of Colorado, an Xcel Energy Inc. (XEL) utility, will purchase all of the generated electricity, which is expected to be enough to power more than 6,500 homes.

Cogentrix operates 17 power plants in the U.S. and one in Turkey, fueled mainly by natural gas and coal. It expanded into solar with the February 2009 purchase of two solar-thermal facilities in Daggett, California, that have 43 megawatts of capacity.

Bridging Loan was a tedious task in this resepct until, The Energy Department’s loan guarantee program committed more than $7.5 billion in loan guarantees for solar energy projects, always taking into count that we still have to Deal with Financial Stress. However, in order to ease yourself of the stress of such loans and find the best interest rates, you can read more here and make an informed decision. 

To contact the reporters on this story: Andrew Herndon in San Francisco at [email protected]; Brian Wingfield in Washington at [email protected]

To contact the editor responsible for this story: Reed Landberg at [email protected]

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