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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—Francis Bacon (1560–1626)