The development projects acquired range in size from 20 megawatts (MW) to 99 MW with the potential to be operational between 2011 and 2013. The acquisition nearly doubles NRG Solar's projects under development to 1,150 MW.
"US Solar has developed a project pipeline that gives us strategic depth in promising solar markets in which there is a public policy commitment to use this zero-emission, domestic peak period energy source," said David Crane, NRG president and chief executive officer.
"Acquiring the nine development projects will be instrumental in expanding our clean energy portfolio and further establishing NRG's leadership as a solar generation company," added Tom Doyle, president, NRG Solar. "This agreement adds meaningful depth to NRG Solar's development pipeline of strong solar projects that can compete well against other solar projects on efficiency, cost of power and return on investment."
NRG is developing solar capacity at sites with strong solar resources, potential for long-term power offtake agreements with load-serving entities and established, easily accessible connections to power grids.
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