PG&E (PCG) Signs Contract with Agua Caliente Solar for 290MW of Solar Power in California

October 15, 2009 2:14 PM EDT
Pacific Gas and Electric Company (NYSE: PCG) today announced that it has contracted with Agua Caliente Solar, LLC, a subsidiary of NextLight Renewable Power, LLC, for 290 megawatts of solar power to serve PG&E's customers in Northern and Central California. The agreement is one of several recently signed by the utility with independent developers for a total of 830 MW of solar power.

The Agua Caliente project, to be located in Yuma County, Ariz., is PG&E's second major contract with a subsidiary of NextLight. In June, the companies announced an agreement for 230 MW of solar power from a project in Antelope Valley, Calif. Both projects, which are 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. "Our agreements with NextLight will help PG&E, and the state of California, show continued leadership in the development of solar power."

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