NRG Solar will buy a portfolio of solar development projects in California and Arizona from US Solar under the terms of a definitive agreement. [corrected version] The price is subject to a confidentiality agreement between the two companies.
“US Solar has developed a project pipeline that gives us strategic depth in promising solar markets in which there is a public policy commitment to use this zero-emission, domestic peak period energy source,” said David Crane, NRG president and CEO. “We expect the American public will increasingly demand that their energy come from these type of sources as they are confronted with the ever increasing human, environmental and strategic cost of our national dependence on fossil fuels.”
The nine acquired development sites vary in size from 20MW to 99MW, with the potential to be operational between 2011 and 2013. The agreement brings NRG Solar’s projects under development to a total of 1,150MW.