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:
“What preoccupies us, then, is not God as a fact of nature, but as a fabrication useful for a God-fearing society. God himself becomes not a power but an image.”
—Daniel J. Boorstin (b. 1914)
“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)
“That which corrodes the souls of the persecuted is the monstrous inner agreement with the prevailing prejudice against them.”
—Eric Hoffer (1902–1983)