PG&E Corp. Unit Solicits Renewable Power Contracts, Projects
June 30 2009 - 12:49PM
Dow Jones News
PG&E Corp. (PCG) utility Pacific Gas & Electric said
Tuesday it has started soliciting new contracts for renewable
energy.
The company is looking for power purchase agreements, agreements
with an option to purchase a project after five or 10 years,
outright acquisitions of renewable energy facilities, acquisitions
of project sites for development of generation facilities, and
agreements to jointly own or develop a renewable energy
project.
State regulators have asked PG&E and other California
utilities to pay special attention to projects in the Imperial
Valley, in the southeast corner of the state, where Sempra Energy
(SRE) unit San Diego Gas & Electric Co. is building a
high-voltage transmission line.
PG&E, San Diego Gas & Electric and Edison International
(EIX) unit Southern California Edison are required by state law to
use renewable sources for a fifth of the power they sell by 2013.
PG&E's request for proposals is aimed at meeting that
requirement.
PG&E said last week it signed a contract with a unit of NRG
Energy Inc. (NRG) for 92 megawatts of solar-thermal power. The
power will come from a plant in Lancaster, Calif., that will use
solar-thermal technology developed by privately held eSolar. The
plant, slated for completion in 2012, will produce about 192
gigawatt-hours of electricity a year, enough to serve about 30,000
homes, PG&E said.
-By Cassandra Sweet, Dow Jones Newswires; 415-439-6468;
cassandra.sweet@dowjones.com