NRG Sun and SunPower agree to accumulation of 250-Megawatt California Valley in the land of the rising sun Ranch

PRINCETON, n. and SAN JOSE, Calif., 30. Nov 2010/PRNewswire/–NRG Solar NRG Energy, Inc., a subsidiary (NYSE: NRG) and SunPower Corp. (Nasdaq: SPWRA, SPWRB) today announced agreements to begin construction of the 250 uraauurtavia-megawatt (MW) of the California Valley Solar Ranch, San Luis Obispo County next year. Solar power plant is expected to be approximately 350 jobs during construction, the power of approximately 100 000 homes and is one of the biggest photovoltaic solar power plants in the world, when it is ready. NRG Solar intends to invest up to $ 450 million in equity capital of the project in the next four years, the final cost of the project and the negotiation of financing terms and conditions.

NRG under an agreement announced today it intends to assume, subject to certain conditions, to the financing of all right, title and interest in and responsibility for the California Valley Solar Ranch. SunPower to further develop the project, and to design, build, operate and maintain the solar power plant.Construction is expected to start half of 2011 with the portion of the project is expected to begin in 2011 and the end of the line balance, becoming the 2012-2013 operational at the time When the second works., contribution to the attainment of a solar power plant to help its 33% renewable Portfolio California.

The aim of the project is currently starting from US Department of energy’s guarantee (DOE) Loan Guarantee Program Office, which supports accelerated economic growth and helps maintain a commercial use of innovative techniques, you will be able to generate and to produce a stable and secure energy supply. DOE Loan Guarantee Program Office has established a draft of the term table California Valley Solar Ranch-project, which is a significant milestone for the conditional loan guarantee commitment to lead the process.

“California Valley Solar Ranch is an important part of our multi-technology portfolio of clean, zero-emissions solar power installations,” said Tom Doyle, President of the NRG Solar.”We are engaged in a large-scale photovoltaic projects between Southwest and like-minded companies that will make it possible to ensure that our work with projects by way of exception, to be successful. SunPower is addressed to the technology and experience to build a solar power plants around the world to deliver well designed solar project, which is a major contributor to help its ambitious renewable Portfolio standard by the end of the Decade in California. “

“This partnership with NRG Solar and DOE represents a major milestone towards the goal of clean, renewable solar 250 megawatts of electricity to customers in California:,” said Howard Wenger, President of the utility and power stations in the business group at SunPower. “To apply for a period of two years from the date on which the SunPower has worked to develop a responsible for this project, in the case of the environment and the community.We are delighted to have found a partner that shares to build NRG, San Luis Obispo County that will improve the local economy, solar power plant in the Visio Help protect the local Habitat and create a California emission free solar. DOE plays a critical role in supporting the promotion of electricity produced from renewable energy sources in the leadership, which offers a wide range of economic and environmental benefits, as well as secure, stable energy supply in the United States “

California Valley Solar Ranch has been carried out, with a 25-year power purchase agreements with Pacific Gas & Electric to reach 250 MW of power purchase contracts, processing commitments and processing contracts approved by the California Public Utilities Commission. [1] [2] today announced the closing of the NRG and SunPower is the usual closing agreements under the conditions and completion of the transaction, including the necessary permits and regulatory approvals.

The year 2010 at the latest, SunPower installed more than 1,500 megawatts of solar systems worldwide, including 400 MW of power stations on the ground.

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