Related articles:

AZ solar plant lacks financing

Dental
Southern Arizona Endodontics
Dental Assistant General
A1 Communications
Cable Techs Health Care
Sierra Tucson
Eating Disorders Program Coordinator Trades/Construction
RANCHO RESORT
MAINTANANCE POSITION

PHOENIX — A Spanish company that plans to build a huge solar-power plant near Gila Bend still hasn't secured financing for the deal.

The $1 billion solar-thermal plant planned by Abengoa Solar Inc. was announced in February and would provide 280 megawatts of electricity to Arizona Public Service. Abengoa would build, own and operate the plant, and APS has a contract to buy all its power.

"Obviously, no construction will start until they receive financing," said Don Robinson, senior vice president of planning for APS.

Fred Morse, senior adviser for Abengoa in the United States, said he is confident the company will find financing.

But APS Renewable Energy Director Pat Dinkel said the troubles obtaining financing for the plant highlight the need for the Arizona Corporation Commission to approve a rate increase sought by APS. The company is asking to raise household bills by 9.4 percent, or about $11 a month.

"When you get a loan, they want to see your paycheck," Dinkel said. "When Abengoa gets financing, (the lenders) want to know their payback, their ability to get paid, comes from a reputable company. If not, there will be a huge premium if they provide financing at all."

If it's built, the Solana Generating Station will use mirrors to heat fluids, create steam and spin a turbine for electricity. It also will be able to store heat to keep going when the sun sets. It was supposed to open by 2011.