Connecticut electricity producer NRG Energy, Inc. plans to acquire a 290-megawatt solar farm in Tempe, Arizona to create the largest photovoltaic site in the world.
“Solar power is critical to transitioning our nation to having a greater emphasis on large-scale clean energy technologies and it is going to be projects of the scale of Agua Caliente that will help us achieve this ambitious goal,” said David Crane, president and CEO of NRG Energy, in a statement.
The project to be complete in 2014 will sell its electricity to the Pacific Gas and Electric Company through a 25-year power purchase agreement.
The closing of the acquisition is contingent upon NRG receiving a U.S. Department of Energy loan guarantee to finance the project. NRG plans to invest $800 million in the project that will sit on 2,400 acres between Yuma and Phoenix.
