World's largest operating photovoltaic power plant creates more than
400 construction jobs
PRINCETON, N.J. & DES MOINES, Iowa & TEMPE, Ariz.--(BUSINESS WIRE)--
Today, NRG Energy, Inc. (NYSE: NRG), MidAmerican Solar and First
Solar, Inc. (Nasdaq: FSLR) announced that the 290-megawatt ACAgua Caliente solar project, currently under construction in Yuma
County, Ariz., is more than two-thirds complete and delivering more than
200 megawatts to the electric grid. The Agua Caliente project is the
world's largest operating photovoltaic power plant.
The facility, which is owned by NRG and MidAmerican Solar, employs a
daily average of 400 to 450 workers during the construction period.
Expected to be completed in 2014, the project uses industry-leading
solar plant controls and forecasting capabilities to integrate its
output with the power grid. The Agua Caliente project is being financed
with support from a loan guarantee from the U.S. Department of Energy's
Loan Programs Office.
"The Agua Caliente project sets the highest standard for what we can
accomplish with today's solar technology when combined with a strong
public-private partnership at the national level," said Tom Doyle, CEO
of NRG Solar. "First Solar's performance on this project, from their
technology and execution to their outstanding safety record, has
exceeded all our expectations and we are extremely pleased with the
results so far."
"This is an incredible milestone for the Agua Caliente project and solar
energy sector," said Paul Caudill, president, MidAmerican Solar. "The
working relationships we have with NRG Energy, First Solar and Pacific
Gas & Electric allow for the construction process to continue in a safe
and efficient manner. We are pleased with the progress and look forward
to the project's completion."
"PG&E congratulates the developers for achieving this significant
milestone at Aqua Caliente," said John Conway, PG&E's Senior Vice
President for Energy Supply. "We look forward to the project's continued
success as we work together to meet California's ambitious renewable
energy goals. Solar projects like this are helping PG&E provide its
customers with some of the nation's cleanest electric power, more than
half of which comes from sources that are renewable or emit no
greenhouse gases."
"First Solar is very proud of the rapid progress we are making at Agua
Caliente," said Jim Lamon, First Solar Senior Vice President for
Engineering, Procurement and Construction and Operations and
Maintenance. "We have achieved record-setting installation velocities,
while maintaining our excellent safety record and achieving the highest
quality in the industry. It is pleasure to be a part of moving utility
scale solar to its rightful place as a dependable and cost-effective
power generation source for U.S. and international utilities."
First Solar designed and is constructing the project using its advanced
thin-film photovoltaic modules and will operate and maintain the
facility for NRG and MidAmerican Solar. Pacific Gas and Electric Company
has a long-term power purchase agreement for the project's generation,
which is projected to offset approximately 5.5 million metric tons of
carbon dioxide over 25 years, the equivalent of taking more than 40,000
cars off the road annually.
About NRG and NRG Solar
NRG is at the forefront of changing how people think about and use
energy. A Fortune 500 company, NRG is a pioneer in developing cleaner
and smarter energy choices for our customers: whether as one of the
largest solar power developers in the country, or by building the first
privately funded electric vehicle charging infrastructure or by giving
customers the latest smart energy solutions to better manage their
energy use. Our diverse power generating facilities can support over 20
million homes and our retail electricity providers—Reliant, Green
Mountain Energy Company and Energy Plus—serve more than two million
customers. NRG Solar LLC, a subsidiary of NRG, has more than 2,000 MW of
photovoltaic and solar thermal projects under development or in
construction across the southwestern United States. More information is
available at www.nrgenergy.com.
About MidAmerican Solar
MidAmerican Solar is a subsidiary of MidAmerican Renewables and is
headquartered in Phoenix, Ariz. MidAmerican Solar's primary projects
include the 550-megawattACTopaz project in San Luis Obispo
County, Calif., and a 49 percent ownership interest in the 290-megawattACAgua Caliente project in Yuma County, Ariz.
MidAmerican Renewables is a subsidiary of MidAmerican Energy Holdings
Company, a global provider of energy services. Through its
energy-related businesses, MidAmerican provides electric and natural gas
service to 7 million customers worldwide. These businesses are Pacific
Power, Rocky Mountain Power and PacifiCorp Energy, comprising
PacifiCorp; MidAmerican Energy Company; Northern Powergrid Holdings
Company; Northern Natural Gas Company; Kern River Gas Transmission
Company; MidAmerican Renewables; and CalEnergy Philippines. Information
about MidAmerican is available at www.midamerican.com.
About First Solar, Inc.
First Solar is a leading global provider of comprehensive photovoltaic
(PV) solar systems which use its advanced thin-film modules. The
company's integrated power plant solutions deliver an economically
attractive alternative to fossil-fuel electricity generation today. From
raw material sourcing through end-of-life module collection and
recycling, First Solar's renewable energy systems protect and enhance
the environment. For more information about First Solar, please visit www.firstsolar.com.
NRG Safe Harbor Disclosure
This news release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Such forward-looking statements are
subject to certain risks, uncertainties and assumptions and include
NRG's expectations regarding the Company's Agua Caliente solar project
and forward-looking statements typically can be identified by the use of
words such as "will," "expect," "believe," and similar terms. Although
NRG believes that its expectations are reasonable, it can give no
assurance that these expectations will prove to have been correct, and
actual results may vary materially. Factors that could cause actual
results to differ materially from those contemplated above include,
among others, general economic conditions, hazards customary in the
power industry, competition in wholesale power markets, the volatility
of energy and fuel prices, failure of customers to perform under
contracts, changes in the wholesale power markets, changes in government
regulation of markets and of environmental emissions, and our ability to
achieve the expected benefits and timing of our electric vehicle
projects. NRG undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. The foregoing review of factors that could
cause NRG's actual results to differ materially from those contemplated
in the forward-looking statements included in this news release should
be considered in connection with information regarding risks and
uncertainties that may affect NRG's future results included in NRG's
filings with the Securities and Exchange Commission at www.sec.gov.
For First Solar Investors
This release contains forward-looking statements which are made pursuant
to the safe harbor provisions of Section 21E of the Securities Exchange
Act of 1934. The forward-looking statements in this release do not
constitute guarantees of future performance. Those statements involve a
number of factors that could cause actual results to differ materially,
including risks associated with the company's business involving the
company's products, their development and distribution, economic and
competitive factors and the company's key strategic relationships and
other risks detailed in the company's filings with the Securities and
Exchange Commission. First Solar assumes no obligation to update any
forward-looking information contained in this press release or with
respect to the announcements described herein.
NRG
Media:
Meredith Moore, 609-524-4522
or
Lori
Neuman, 609-524-4525
or
Dave Knox, 713-537-2130
or
Investors:
Chad
Plotkin, 609-524-4526
or
Stefan Kimball, 609-524-4527
or
MidAmerican
Solar
Ann Thelen, 515-281-2785
athelen@midamerican.com
or
First
Solar
First Solar—USA
Alan Bernheimer, 415-935-2499
media@firstsolar.com
or
First
Solar—Europe
Brandon Mitchener
+49 (0) 6131 1443.399
media-emea@firstsolar.com
or
First
Solar Investors
David Brady / Michelle Pereira
602-414-9315
dbrady@firstsolar.com
michelle.pereira@firstsolar.com
Source: NRG Energy, Inc.
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