SCE, BrightSource Ink 1,300MW Solar Installation Deal

Feb 13 2009 | 10:47am ET

Power utility Southern California Edison and solar power plant specialist BrightSource Energy have agreed to a series of contracts for 1,300MW of clean solar thermal power, enough to supply almost 845,000 homes.

The deal involves the largest series of solar installations ever seen – seven projects in all, to be constructed in the desert outside Los Angeles. The first 100MW solar power plant, located in Ivanpah, California, could be operational by 2013 and is expected to produce 286,000MW-hours of renewable electricity per year.

“These contracts represent a significant addition to our renewable portfolio, which is already the nation’s largest,” said Stuart Hemphill, SCE vice president, Renewable and Alternative Power. “This innovative solar technology helps to further our position as the nation’s largest purchaser of solar energy, as well.”

The facilities will use solar thermal power technology, which concentrates the sun’s rays to create steam in a boiler and spin a turbine. SCE says BrightSource will build and place each of the plants into commercial operation as quickly as permitting and infrastructure allow.


In Depth

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note