Monday, February 23, 2009

eSolar Signs 500MW Solar Deal

Pasadena-based eSolar, which is developing technology for utility-scale, solar thermal energy plants, has scored a deal with power generator NRG Energy, NRG said today. The deal calls for NRG to use eSolar to develop solar plants with a capacity of 500 megawatts, and will invest $10M in equity in three project sites. According to NRG, the plants will power more than 400,000 homes, and will be based on up to 11 eSolar modular solar generating units at the sites. eSolar is backed by Idealab, Google.org, Oak Investment Partners, and others. According to NRG and eSolar, the solar power generated through the planned solar sites will be sold via contracted power purchase agreements (PPAs) to local utilities.

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