NRG Energy Inc. has completed its acquisition of the 250 MW California Valley Solar Ranch project from SunPower Corp. The acquisition occurred immediately prior to the financial closing of the project's loan guarantee from the U.S. Department of Energy.
Construction on the project has begun, with approximately 350 jobs expected to be created in San Luis Obispo County over the two-year construction period.
NRG now bears full ownership responsibility for the project, which is expected to begin partial operations by early 2012, with the balance of the project coming online later in 2012 and 2013. SunPower will complete the project's design and construction, working with Bechtel, which is providing balance of plant engineering and procurement services and construction services.
Once completed, NRG and SunPower will jointly operate and maintain the project for two years, and then NRG assumes sole responsibility for operations and maintenance of the project, the companies explain.