SolarCity US DOE loan approval fails

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

According to news reports, US-based  solar installation firm, SolarCity will not be able to complete and comply with documentation deadlines of September 30 to be considered for a US Department of Energy loan guarantee, previously announced.

Earlier this month, the DOE had made a conditional commitment for a partial loan guarantee to SolarCity for PV system installations on residential and other buildings at US military bases. The US$344 million loan would go towards 371MW of new solar power generation capacity.

The project, code named SolarStrong, will be led by SolarCity, with USRG Renewable Finance acting as lead lender in partnership with Bank of America Merrill Lynch.

Only last week, First Solar fell foul of the same deadline due to its inability to meet documentation deadlines.

The US DOE has come under the political spotlight since the collapse of CIGS thin film producer, Solyndra, and a loan of over US$500 million offered to the now-bankrupt company.

 

Read Next

March 5, 2021
Small-scale solar installations in Texas and Florida got a boost last year thanks to incentives and policy changes in the states.
March 5, 2021
Wafer and equipment provider pens three-year deal with Daqo, set to commence in July this year
March 5, 2021
EDP Renewables (EDPR) has completed its acquisition of the distributed solar platform of renewables investor C2 Energy Capital.
March 5, 2021
Indian solar firm Fourth Partner Energy has created a joint venture (JV) with coal producer Indika Energy to develop commercial and industrial (C&I) PV projects in Indonesia.
March 4, 2021
Spanish energy company Iberdrola has added 750MW of solar PV capacity to its development pipeline.
March 4, 2021
A round-up of the latest solar project news from around the world, including updates from Hanwha Q CELLS and Capital Dynamics.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
March 9, 2021
Solar Media Events
March 17, 2021
Solar Media Events
April 13, 2021
Solar Media Events
April 20, 2021