Liberty Interactive invests $300M in Abengoa's solar plant

Abengoa has added Liberty Interactive as an investor in Solana, the largest parabolic trough solar plant in the world. Solana, which is in its final testing phase, has a total installed capacity of 280 gross megawatts and will be the first solar plant in the United States with thermal energy storage. During these final tests, the concentrating solar power plant is demonstrating that it will generate electricity during the day and night, and its capacity to store energy and adapt to consumption demands. Liberty's $300M investment in the limited liability company that holds Solana has been approved by the U.S. Department of Energy and the Federal Energy Regulatory Commission. Abengoa will continue as managing partner and will be responsible for the management, operation and maintenance of the plant. The total investment in the plant is approximately $2B and during financing, received a federal loan guarantee for $1.45B. Liberty's investment is attributed to its Liberty Ventures Group.

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Liberty Interactive invests $300M in Abengoa's solar plant