Solar Trust of America announced that it has engaged Citigroup Global Markets and Deutsche Bank Securities as advisors to assist in securing more than $6 billion in financing for construction of multiple solar thermal power plants across the southwestern United States.

Solar Trust of America will bid to secure the competitive award of U.S. Department of Energy loan guarantees and develop models for debt and equity project financing for its proposed solar thermal power plants in California and Nevada. The company has already applied for certification with the Department of Energy and expects to begin construction in 2010.

Solar Trust of America currently has solar thermal energy power plants in advanced stages of development, among them Ridgecrest, Palen and Blythe in California and in Nevada's Amargosa Valley. In addition, the company has power purchase agreements (PPAs) in place with Southern California Edison (SCE) for development and construction of two 242-megawatt power plants, with an option to include a third 242 megawatt plant, for a total of up to 726 megawatts of capacity. These solar thermal power plants are expected to begin operation between 2013 and 2014. Solar Trust of America also has in place a Memorandum of Understanding with Nevada Energy for development and construction of at least one 242-megawatt solar thermal power plant.