Solar thermal energy company BrightSource Energy has closed financing for the Ivanpah solar electric generating system in Mojave Desert, in the US state of California.

BrightSource finalized $1.6bn in loans guaranteed by the US Department of Energy.

The project which is currently under construction, has also secured investments of $168m from Google and $300m from NRG Solar.

The project which is being delivered by BrightSource’s engineering partner, Bechtel, will be complete in 2013.

The Ivanpah project is a 392 gross-megawatt solar power facility consisting of three separate solar thermal power plants.

On completition, the project will produce enough clean energy to power 140,000 homes.

BrightSource has contracted with PG&E and SCE to deliver approximately 2,600 megawatts of electric power.

Pacific Gas and Electric (PG&E) will purchase approximately two-thirds of the power generated at Ivanpah and Southern California Edison (SCE) will purchase approximately one-third.

The project secured its state permits from the California Energy Commission and federal permits from the U.S. Department of the Interior’s Bureau of Land Management last year.