ANNOUNCEMENT 01 Jan 2014In January 2014, the government of the United States of America announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
The Ivanpah Solar Generating System in California's Mojave Desert generates electricity by using mirror sets (heliostats) to heat water to generate electricity. This 392-megawatt plant, which started commercial operation in 2013, produced at a lower than anticipated level due to weather. The plant was financed through a $1.6 billion federal loan from the Department of Energy's loan-guarantee program. The plant's owners have received a series of deferrals for the repayment of the loan, and to help pay for these installments they applied for a $539 million grant through a Treasury Department program that provides awards equivalent to 30% of the project's total eligible cost basis.
The GTA includes state guarantees and other financial incentives thatare likely to affect the restructuring and performance of firms facinginternational competition, whether from imports, in export markets, andfrom foreign subsidiaries.