NextLight Renewable Power Signs 25-Year Contract with Pacific Gas and Electric for 290 MW Agua Caliente Solar Project in Southwest Arizona
Oct 15, 2009
SAN FRANCISCO, Calif. – NextLight Renewable Power, LLC (NextLight) announced today that it has entered into a long-term power purchase agreement with Pacific Gas and Electric Company (PG&E) which will buy the entire output of NextLight’s Agua Caliente Solar project (Agua Caliente Solar).
Located in Yuma County, near Dateland, Arizona on approximately 2,400 acres of agricultural land, the 290 MW Agua Caliente Solar generating facility will employ state-of-the-art photovoltaic solar technology to provide emissions-free power on-peak when it is needed most. When it is completed in 2014, Agua Caliente Solar will be capable of generating approximately 700 million kWh of electricity annually, enough to meet the annual energy needs of over 100,000 homes. Agua Caliente will employ up to 400 workers during construction and, once it is fully operational, Agua Caliente Solar will require 20 full time employees.
“This is another example of PG&E’s leadership in supplying its customers with clean, carbon-free renewable energy,” said Frank De Rosa, Chief Executive Officer of NextLight. “Having already obtained all major state and local government permits, Agua Caliente Solar has achieved another major milestone with the execution of this long-term power contract. NextLight is planning to commence construction as early as July 2010, which makes Agua Caliente Solar one of the most advanced utility scale solar projects in the Western U.S. today.”
Agua Caliente Solar is one of several utility-scale solar projects currently in development by NextLight in the Western U.S. Earlier this year, NextLight and PG&E announced the execution of a long-term power purchase agreement for NextLight’s 230 MW AV Solar Ranch One project, located in the Antelope Valley area of Southern California. NextLight also recently announced the execution of a 40 year lease with the City of Boulder City, Nevada, for approximately 1,100 acres of prime solar development land in Boulder City’s Energy Zone in the Eldorado Valley area of Southern Nevada. In addition, the Bureau of Land Management has selected NextLight’s Silver State Solar Project, located near Primm, Nevada, as one of a handful of solar projects receiving fast-track treatment.
About NextLight Renewable Power, LLC
NextLight Renewable Power, LLC is a renewable energy development company focused primarily on utility- scale solar development in the western U.S. NextLight’s experienced development and commercial team does not promote a particular renewable technology; rather, the company possesses the power industry expertise to site, permit, build and finance projects using the best renewable technology for the application. NextLight was formed by Energy Capital Partners, a private equity firm, to respond to the growing demand for clean, carbon-free, utility-scale renewable energy. Together, NextLight and Energy Capital Partners combine expertise in project development and financial resources to build, own and operate successful, utility-scale solar generating facilities. For more information, visit NextLight at www.nextlight.com and Energy Capital Partners at www.ecpartners.com.
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