PG&E Contracts Another 290MW of Solar Power

Oct 16 2009 | 12:51pm ET

Pacific Gas and Electric Company (PG&E) has contracted with Agua Caliente Solar, LLC, a subsidiary of NextLight Renewable Power, LLC, for 290 megawatts (MW) of solar power to serve PG&E customers in Northern and Central California.

The agreement is one of several recently signed by the utility with independent developers for a total of 830MW of solar power.

The Agua Caliente project, to be located in Yuma County, Arizona, is PG&E's second major contract with a subsidiary of NextLight. In June, the companies announced an agreement for 230MW of solar power from a project in Antelope Valley, Calif. Both projects, subject to approval by the California Public Utilities Commission, will use photovoltaic panels to generate clean, renewable power.

The Agua Caliente project will deliver about 700 gigawatt-hours of energy per year, enough to serve the needs of more than 100,000 average homes. Initial deliveries are expected to begin in mid-2012, with the project becoming fully operational by late 2014.

"In keeping with state policy and our own commitment to a cleaner energy future, we continue aggressively to pursue additional sources of renewable power," said Fong Wan, senior vice president of energy procurement at PG&E, in a statement. "Our agreements with NextLight will help PG&E, and the state of California, show continued leadership in the development of solar power."

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation, is one of the largest combined natural gas and electric utilities in the United States. Based in San Francisco, with 20,000 employees, the company delivers some of the nation's cleanest energy to 15 million people in Northern and Central California.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of