Akin Gump Advises SunPower Corp. and NRG Energy, Inc. in California Valley Solar Ranch Project

A team of Akin Gump attorneys advised SunPower Corp. and NRG Energy, Inc. in the acquisition and financing of the California Valley Solar Ranch, a 250 megawatt solar project located in San Luis Obispo County, California.

The financing benefits from an approximately $1.237 billion loan guaranty provided by the U.S. Department of Energy, which represents one of the last major loan guaranties issued by DOE  under the 2009 American Recovery and Reinvestment Act.  The program was designed to provide loan guaranties to support “innovative technology” like the solar technology being used at California Valley Solar Ranch.