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California Valley Solar Ranch acquisition complete

NRG Energy Inc has completed the acquisition of the 250 MW California Valley Solar Ranch (CVSR) project from SunPower Corp.

By Kari Williamson

The acquisition occurred immediately prior to the financial closing of the project's loan guarantee of up to US$1.237 billion from the US Department of Energy's (DoE's) Loan Programs Office.

Construction of the solar project is already underway in San Luis Obispo County, CA, and is expected to begin partial operations by early 2012, with the balance of the project coming online later in 2012 and 2013.

SunPower will complete the solar project's design and construction, working with Bechtel, which is providing balance of plant engineering and procurement services and construction services.

NRG and SunPower will jointly operate and maintain the solar ranch for two years, and then NRG assumes sole responsibility for operations and maintenance of the project.

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Photovoltaics (PV)  •  Solar electricity