Pacific Gas and Electric Co., a unit of PG&E Corp. (PCG), announced that it has entered into contracts with subsidiaries of NextEra Energy Resources and Abengoa Solar for delivery of a total of 500 megawatts or of clean solar power. The agreements are among several solar deals recently signed by the utility with independent developers for a total of 830 megawatts.
NextEra's proposed Genesis Solar Energy Project consists of two 125 megawatts units to be located on a site managed by the U.S. Bureau of Land Management in Riverside County, Calif. The project is scheduled to come online in two phases, the first 125 megawatts in 2013 and the second 125 megawatts in 2014. It is expected to deliver about 560 gigawatt-hours of energy per year, as much as the annual consumption of more than 80,000 average homes.
Abengoa Solar's proposed 250 megawatts Mojave Solar project is to be located at Harper Lake in San Bernardino County. The project will deliver more than 600 gigawatt-hours of energy per year, enough to serve the needs of about 90 thousand average homes. The project is scheduled to become fully operational by late 2013.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.