Tonopah Solar secures US$737 million loan guarantee from US DOE for its Crescent Dunes CSP project

Facebook
Twitter
LinkedIn
Reddit
Email

The US Department of Energy (DOE) advised that it had awarded a US$737 million loan guarantee to Tonopah Solar Energy for its 110MW Crescent Dunes Solar Energy Project. Sponsored by SolarReserve, the 100MW CSP solar power tower is said to be the first of its kind in the US and the tallest molten salt tower in the world. The project will be built on land leased from the Bureau of Land Management in Tonopah, Nevada.

The CSP project will generate power with molten salt as the main heat transfer and storage medium for the system. It plans to use 17,500 heliostats to collect the sun’s thermal energy, which will heat the molten salt flowing through the 640-foot tall solar power tower. Solar power produced by the Crescent Dunes project will be sold to the Nevada Power Company, a utility subsidiary of NV Energy.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

“The Crescent Dunes Solar Energy Project will be a showcase for American technology, the most advanced solar thermal technology worldwide,” said Kevin Smith, CEO of SolarReserve. “The support from the Department of Energy’s Loan Programs Office and our investors has been vital in order to bring this flagship project to realization, creating jobs and providing a platform for exporting this leading solar thermal technology to international markets. In addition, we received important cooperation from the state of Nevada and the federal government, along with tremendous support from Nye County and the town of Tonopah.”

In addition to the DOE loan guarantee, SolarReserve and ACS Cobra both invested in the CSP project. ACS Cobra’s Nevada-based affiliate, Cobra Thermosolar Plants will serve as the project’s general contractor. The project is anticipated to generate over 500,000MWh per year of solar electricity.
“We expect to create more than 600 direct jobs on the project site over the 30 month construction period, and more than 4,300 direct, indirect and induced jobs at companies throughout the US that provide engineering, equipment supply and manufacturing, transportation and other value-added services. Orders and activities are already proceeding in more than twenty states across the country,” Smith added.

Read Next

September 15, 2025
Norwegian energy firm Statkraft has agreed to divest a portion of its renewable energy portfolio to Serentica Renewables.
September 15, 2025
UNSW spin-out company Lab360 Solar has been awarded funding from ARENA to bring its drone-based PV inspection technology to market.
Premium
September 15, 2025
The UK government and solar industry have jointly published a long-anticipated roadmap detailing how to maximise the country’s solar potential. Chris Hewett, CEO of Solar Energy UK takes a closer look at the details.
September 15, 2025
Australia has reached 26.8GW of installed rooftop solar at the end of the first half of 2025, according to a report from the Clean Energy Council (CIC).
September 15, 2025
Vikram Solar has secured a contract to supply 200MW of modules to AB Energia, a domestic solar engineering, procurement, and construction (EPC) solutions provider. 
September 12, 2025
Colombian energy supplier Celsia is seeking more than US$1.2 billion in investment to build wind and solar generation projects in Peru. 

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines