MidAmerican Energy acquires stake in 290 MW PV project

Share

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.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Popular content

Energy storage is a solved problem

08 October 2024 There are thousands of extraordinarily good pumped hydro energy storage sites around the world with extraordinarily low capital cost. When coupled wit...

Share

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.