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Summary:

Wells Fargo (WFC) said this morning that it has invested in Nevada Solar One, a 64-megawatt solar plant southeast of Las Vegas. A Wells Fargo spokesperson declined to disclose the size of the investment. JPMorgan Capital led the equity investors, which also included an affiliate of […]

Wells Fargo (WFC) said this morning that it has invested in Nevada Solar One, a 64-megawatt solar plant southeast of Las Vegas. A Wells Fargo spokesperson declined to disclose the size of the investment. JPMorgan Capital led the equity investors, which also included an affiliate of Northern Trust (NTRS); Spain’s Banco Santander and BBVA and Portugal’s CAIXA were responsible for the debt financing.

Nevada Solar One is a $266 million, 400-acre solar project with more than 182,000 panels that was developed by Acciona Energy. The plant uses concentrated solar technology, which utilizes parabolic trough-shaped mirrored panels to concentrate sun onto fluid-filled tubes, powering an electricity-generating steam turbine. The electricity from Nevada Solar will be bought by Nevada Power Co. and Sierra Pacific Power Co. (SRP) through purchase-power agreements.

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  1. cool. Wells Fargo can add to their chain of predatory check cashing outlets they place in low-income areas and charge 17%.

  2. Acciona Switches On 46 MW Portuguese Solar Plant « Earth2Tech Tuesday, December 30, 2008

    [...] Acciona owns the Nevada Solar One project, a 64 MW concentrated solar facility. Wells Fargo took an undisclosed stake in the €220 million Nevada project back in 2007, along with JPMorgan Capital and an affiliate of [...]

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