Power Purchase Agreement
On August 14, 2008, Pacific Gas and Electric announced an agreement to buy all the power from the power plant. A Conditional Use Permit application for the project was filed with the County of San Luis Obispo Planning and Building Department on January 14, 2009. On November 30, 2010, NRG Energy announced that it would buy CVSR from SunPower for "up to $450 million". In September 2011, the Department of Energy (DOE) offered NRG Solar a $1.237 billion loan from the federal government to cover most of the construction cost. The total cost of the project is estimated to be $1.6 billion.
Read more about this topic: California Valley Solar Ranch
Famous quotes containing the words power, purchase and/or agreement:
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—Annie Dillard (b. 1945)
“Riches are valuable at all times, and to all men; because they always purchase pleasures, such as men are accustomed to, and desire: Nor can any thing restrain or regulate the love of money, but a sense of honour and virtue; which, if it be not nearly equal at all times, will naturally abound most in ages of knowledge and refinement.”
—David Hume (1711–1776)
“No one can doubt, that the convention for the distinction of property, and for the stability of possession, is of all circumstances the most necessary to the establishment of human society, and that after the agreement for the fixing and observing of this rule, there remains little or nothing to be done towards settling a perfect harmony and concord.”
—David Hume (1711–1776)