PRINCETON, N.J. & DES MOINES, Iowa & TEMPE, Ariz.--([ BUSINESS WIRE ])--Representatives from NRG Energy, Inc. (NYSE: NRG), MidAmerican Solar and First Solar, Inc. (NASDAQ: FSLR) gathered with federal and local officials today at the 290 megawatt (AC) Agua Caliente solar project in Yuma County, Ariz., to celebrate the projectas first 100 megawatts (MW) being delivered to the grid, making it North Americaas largest photovoltaic (PV) power plant in operation.
"Getting to this milestone of our first 100 megawatts at Agua Caliente illustrates the success of public-private partnerships to stimulate the construction of these large-scale solar projects, creating hundreds of construction jobs and providing clean, renewable power to thousands of homes"
Once completed in 2014, Agua Caliente will be one of the worldas largest PV power plants, supplying enough clean, renewable solar energy to power more than 225,000 homes. The projectas construction phase is creating an average of 400 jobs, with over 80% of the workforce coming from Arizona.
aGetting to this milestone of our first 100 megawatts at Agua Caliente illustrates the success of public-private partnerships to stimulate the construction of these large-scale solar projects, creating hundreds of construction jobs and providing clean, renewable power to thousands of homes,a said Tom Doyle, president of NRG Solar. aLarge-scale projects like this also help drive down the price of solar, which will make it even more cost-competitive with conventional electricity generation in the near future.a
Todayas event included site tours and media Q&A led by project owners NRG and MidAmerican Solar, and project developer First Solara"three companies with complementary development capabilities and strong commitment to expanding the benefits of clean energy to more Americans.
aAgua Caliente will provide a positive impact on the environment and create jobs. Projects such as Agua Caliente will play a central role in our nationas long-term electric energy supply and in our national transition to cleaner energy sources,a said Paul Caudill, president of MidAmerican Solar.
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 all of the projectas generation, which is projected to offset approximately 5.5 million metric tons of carbon dioxide over 25 years, the equivalent of taking over 40,000 cars off the road annually.
aFirst Solar is proud of the rapid progress we are making to bring Agua Calienteas clean power to the grid,a said Jim Lamon, First Solar senior vice president of Engineering, Procurement and Construction and Operations and Maintenance. aWe are very pleased to be working on this and other projects with energy leaders like NRG and MidAmerican Solar. And weare grateful for the robust support at the local, state and federal levels that enabled us to realize this project.a
Agua Caliente was named Solar Project of the Year by Renewable Energy World, a leading industry magazine, and PV Project of the Year by Solar Power Generation USA, the industryas leading utility-scale solar power conference.
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 providersa"Reliant, Green Mountain Energy Company and Energy Plusa"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 ] and [ www.nrgsolarenergy.com ].
About MidAmerican Solar
MidAmerican Solar is a subsidiary of MidAmerican Renewables and is headquartered in Phoenix, Ariz. MidAmerican Solaras primary projects include the 550-megawattAC Topaz project in San Luis Obispo County, Calif., and a 49 percent ownership interest in the 290-megawattAC Agua 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
First Solar is a leading global provider of comprehensive photovoltaic (PV) solar systems which use its advanced thin-film modules. The companyas 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 Solaras 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 NRGas expectations regarding the Companyas Agua Caliente solar project and forward-looking statements typically can be identified by the use of words such as awill,a aexpect,a abelieve,a 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 NRGas 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 NRGas future results included in NRGas 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.
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