NRG Energy has completed its acquisition of the 290 MW Agua Caliente solar project from First Solar. The financial terms of the sale have not been disclosed.
The project in Yuma County has obtained all permits and approvals from both federal and state agencies, and is expected to create up to 400 construction jobs through its completion date in 2014. According to NRG Energy, Agua Caliente is the world's largest solar photovoltaic project currently under construction.
Electricity from Agua Caliente will be sold under a 25-year power purchase agreement with Pacific
Gas and Electric Company. At full capacity, the electricity generated by the plant is enough to serve more than 225,000 homes. The project is expected to offset approximately 5.5 million metric tonnes of CO2 over 25 years.
Tom Doyle, CEO of NRG Solar, says: "Agua Caliente demonstrates the extraordinary progress the US has made to achieving energy independence through public-private collaboration and technological innovation."
