Posted: Feb 23, 2010 8:57 AM
Updated: Feb 23, 2010 8:57 AM
LOS ANGELES (AP) - The Obama administration has given preliminary approval for $1.4 billion in loan guarantees for a massive solar-energy project in California's Mojave Desert.
U.S. Energy Secretary Steven Chu said Monday that BrightSource Energy was in line for the financing help to build solar-energy plants to power 140,000 homes.
The federal agency will consider the project's likelihood of being completed and the Oakland-based company's ability to repay loans before making a final decision.
Environmentalists want the complex relocated because they say it will harm protected desert tortoises. BrightSource has made design changes in an attempt to alleviate environmental concerns.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
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