MidAmerican Energy acquires stake in 290 MW PV project

19. December 2011 | Applications & Installations, Industry & Suppliers | By:  Becky Stuart

MidAmerican Energy Holdings Company is to acquire a 49 percent stake in NRG Energy’s 290 megawatt (MW) Agua Caliente photovoltaic project.

Yuma County road sign

The photovoltaic project is located in Yuma County, Arizona.

The deal, announced today, is said to be subject to U.S. Department of Energy (DOE) approval and other customary closing conditions.

Expected to be completed in 2014 by First Solar, the project is located in Yuma County, Arizona. Costing a total of US$1.8 billion, DOE awarded a $967 million loan guarantee to boost development, and Pacific Gas and Electric has signed a long-term power purchase agreement.

Commenting on the news, Greg Abel, chairman, president and CEO of MidAmerican Energy said, "We are aggressively pursuing opportunities to expand our presence in the renewable energy sector, and the Agua Caliente project is another important step toward that goal."

The news represents MidAmerican Energy’s second solar endeavor. At the start of the month, the company also bought First Solar’s 550 MW Topaz Solar Project.

To leave a comment you must first sign in or register your details

No comments

No comments have been submitted yet. Why not login or register and be the first?

Daily newsletter

Keep your finger firmly on the photovoltaic pulse: sign up for our daily newsletter

Magazine subscription

Choose between a digital and print subscription from pv magazine's online shop. A non-subscriber? Check out our sample articles.

Press releases

Want to publish your press releases for free? Simply log in or register, enter the information you want to appear and we'll publish it for you!