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« Smaller, cheaper biofuel reactors | Main | A green Cadillac? »

Big Banks back Big Solar

By MB-BigB | August 16, 2007

Wells Fargo Bank said today that it is taking a large equity stake in Nevada Solar One, a $266 million 64 megawatt solar power plant. Nevada Solar One is a solar trough design, that uses sun-tracking parabolic mirrors to heat tubes of synthetic oil to create steam and drive a turbine. Other large banks taking equity stakes include Northern Trust and JPMorgan Capital. This deal represents the first leveraged lease structured financing for a US Solar farm, and indicates a willingness of financial companies to invest in alterntive power.

Related posts:

1. Company Finances New Solar Systems
2. First Solar to enter residential solar panel market
3. Nevada Solar One
4. Two new large scale solar panel farms go live this week in US
5. Sierra Nevada brewery a fuel cell pioneer

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