California Approves Deal Between P G & E (PCG) First Solar (FSLR) And Sempra Energy (SRE)

California regulators have given the go-ahead for a deal that will allow P G & E to buy power from the 48 MW solar power project that First Solar and Sempra Energy are building together near Boulder City, Nevada. Now that everything has been approved, construction should start next month and the facility should be completed late next year. It will be an add-on to a 10  MW plant previously built by First Solar and Sempra in the same location, and P G& E will buy all 58 MW of the power produced.

In a press release, Michael W. Allman, president and chief executive officer for Sempra Generation, commented on the news:

“The approval of this power contract will allow us to bolster and expand a vital renewable energy hub for the western United States, one that will provide citizens in California with reliable and sustainable power for years to come. The prime desert location for this solar project provides a reliable, efficient daytime source of energy for more than 330 days a year. We continue to be very pleased with the positive reception Sempra Generation’s wind and solar projects have received from existing and potential customers and look forward to continuing the development of large, utility-scale renewable power projects that meet North America’s ever increasing demand for clean energy.”

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