Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBOM Partially Public Finance
# of Projects: 1
100% of the Results

Background informationProject Created: December 15, 2010

Project Name: Ivanpah Solar Energy Project,
Year in Operation:
Sector: Energy
Subsector: Energy Generation
Status: Design / Construction
Type: New Facility
Description: $2Billion (initial construction) solar power project in the Mojave Desert comprising 346,000 billboard-sized mirrors on 3,600 acres of federal land, expected to produce 370 MW of electricity. The project is authorized through a lease of the underlying site from the Bureau of Land Management of the Department of the Interior to BrightSource Energy, a private developer.
Delivery Method as described in the country where it's located: Concession
Is the project still active: Yes
Comments: Installation in three phsaes, each with 116,000 mirrors arranged in circles around a 460 ft power tower. The mirrors, called heliostats, focus the sun's rays onto the tower. The heat turns fluid inside the tower into steam, powering a turbine.

Project Locations

Address: Mojave Desert
City: Nipton
State:
Country: United States of America

Address: Mojave Desert
City: Nipton
State: California
Country: United States of America

Address: Ivanpah Lake
City: Nipton
State: California
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Access to Land: Access to federally owned and managed desert under a long term lease.
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): Sponsor is US Department of Interior, through the Bureau of Land Management, which signed a 30 year lease with the private developer permitting that developer to design, construct, operate, and decommission the facility and authorizing that developer to sell generated power to the electricity grid.
Checkbox Checked Environmental Clearance: By federal entities, through application by private developer. With involvement in a parallel process by state of California. Extensive environmental mitigation requirements are set forth in the lease between the BLM and the private developer. Compliance is required throughout the lease term as a condition of continued operation of the facility. Compliance is required as a condition of renewal of the term, in the discretion of the BLM.

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers: The developer also agrees in the ROW grant/lease to make lease payments in an amount determined by the Bureau of Land Management Authorized Representative.

Arrow Right
Checkbox Checked

Credit Enhancements

Arrow Right
Checkbox Checked

From Public Sponsor of Project: The Department of the Interior is providing $1.3 Billion in loan guarantees through the DOE's "Recovery Act" program. This is the ARRA or Stimulus Act program. The private sector developer can apply for direct payments of up to 30% of the eligible costs of the project, in lieu of taking future tax credits.

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: The private sector developer is also borrowing in private sector debt markets on the strength of $1.4 B in federal loan guarantees. The amount of private equity supplied by the developer is not known.

Checkbox Checked

From Producers as Equity: The private sector developer is also borrowing in private sector debt markets on the strength of $1.4 B in federal loan guarantees. The amount of private equity supplied by the developer is not known.

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independant checking engineer? Yes
Project Finance Method: All or Partially By Public Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
30
0
Forms
Description
Mandatory Statutory Form
Determined by Bureau of Land Management. 

Project Value (If and As Known)

Date of Estimated Project Value: October 15, 2010
Project Value
Hard Cost
Hard & Soft Costs
Total
$2-10 Billion US
(none)

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