Dow Jones: PG&E, Energy Capital's NextLight Sign 290-MW (PV) Solar Power Deal

OCTOBER 15, 2009, 3:59 P.M. ET

UPDATE: PG&E, Energy Capital's NextLight Sign 290-MW Solar Power Deal

SAN FRANCISCO (Dow Jones)--PG&E Corp.'s (PCG) utility said Thursday it has signed a contract with private equity firm Energy Capital Partners' NextLight unit to buy 290 megawatts of electricity from a solar farm in Arizona.

The solar farm, called Agua Caliente, will deliver about 700 gigawatt-hours of electricity a year, enough to serve more than 100,000 homes, Pacific Gas & Electric Co. said. The facility will be developed by NextLight Renewable Power LLC of San Francisco.

PG&E signed an agreement with NextLight in June to buy the output from a 230-megawatt solar farm in Antelope Valley, Calif., called AV Solar Ranch 1. Both projects will use solar photovoltaic panels to generate renewable power, PG&E said.

PG&E spokesman Jonathan Marshall said he didn't know what company would be supplying the solar panels.

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