Eurus and NRG have completed construction financing on all three projects, and given full notice to proceed on Sun City (20 MW) and Sand Drag (19 MW) to the Ryan Company, Inc., the engineering, procurement and contracting firm that will construct the Avenal projects. Ryan Company, a wholly owned subsidiary of Quanta Services (NYSE: PWR), will begin mobilizing immediately to start construction, with the projects expected to achieve commercial operation in mid-2011. The California Public Utilities Commission has approved the 20-year Avenal power purchase agreements with Pacific Gas & Electric.
NRG Solar and Eurus’ expertise developing solar power, utility construction and operation, backed by their corporate resources, will ensure the Avenal projects are brought online and on schedule to help the state achieve its short-term goals for greater renewable power—and advance California’s progress significantly toward achieving its stated target of 33% renewable power generation by 2020.
“We believe Avenal represents not only a bold new chapter in developing clean, zero-emission solar power in California, but also is a key piece in helping the state meet its ambitious renewable portfolio standard by the end of the decade,” said Tom Doyle, President of NRG Solar. “California continues to lead our nation in mandating the increasing use of renewable power, and, as the owners of the largest PV site there today, we look forward to continuing our partnership with California and our leadership as a developer of this bountiful, sustainable power source.”
“The Avenal projects are just the first of many utility-scale PV solar projects that we expect to be developing, building and owning in the State of California. We are very pleased to be adding these solar power projects to our portfolio of wind projects helping California reach its nation-leading goals to increase the utilization of emission-free power generation,” said Mark E. Anderson, President and CEO of Eurus Energy America.
Along with the clean power it will bring to California, the projects also will bring much-needed jobs to an economically distressed area.
Avenal will be built with thin film solar panels provided by Sharp Electronics, solidifying Sharp’s presence in the California utility scale market and bolstering diversity of supply for California’s growing solar infrastructure.
Eurus Energy America is the wholly-owned subsidiary of Tokyo-based Eurus Energy Holdings (www.eurusenergy.com) and is responsible for North American renewable energy investment, now comprising approximately 600 megawatts in wind power generation. Eurus Energy Holdings, owned by Tokyo Electric Power Company and Toyota Tsusho Corporation, is a global developer, owner and operator of renewable energy facilities, including both wind and solar, with more than 1,900 megawatts worldwide. Eurus Energy America, headquartered in San Diego, California, has been active in the renewable energy sector in the United States for over twenty years, beginning operations of its first renewable power projects in California in 1987.
NRG Energy, Inc., a Fortune 500 company, owns and operates one of the country’s largest and most diverse power generation portfolios. Headquartered in Princeton, NJ, the Company’s power plants provide more than 24,000 megawatts of generation capacity—enough to supply more than 20 million homes. NRG’s retail business, Reliant Energy, serves 1.6 million residential, business, commercial and industrial customers in Texas.
NRG Solar is responsible for developing, constructing, financing and operating a multi-technology portfolio of solar power assets in North America. NRG owns the largest operating photovoltaic solar project in California, a 21 MW facility in Blythe. The solar power generated at Blythe alone will displace approximately 27,000 tons of carbon dioxide emissions annually—the equivalent of taking over 4,800 cars off the road.
A past recipient of the energy industry’s highest honors—Platts Industry Leadership and Energy Company of the Year awards, NRG is a member of the U.S. Climate Action Partnership (USCAP), a group of business and environmental organizations calling for mandatory legislation to reduce greenhouse gas emissions.