North Coast Solar Stocks

September 24, 2009

Houston selects NRG for 10-MW solar project

Filed under: FSLR, NRG — Tags: , , , — Jason @ 1:43 pm

Thu Sep 24, 2009 1:43pm EDT

HOUSTON, Sept 24 (Reuters) – The City of Houston has selected NRG Energy Inc (NRG) to develop and operate a 10-megawatt solar project, the mayor’s office said on Thursday.

Under the agreement, the city will purchase the power under a 25-year, fixed-price contract for 8.2 cents per kilowatt-hour the first year.

The price will change over time and is a blended rate that includes higher-priced solar power and back-up power from NRG’s nuclear, coal and natural gas-fired generating portfolio for periods when solar power is unavailable.

The solar power price tag is 19.8 cents per kwh under the contract.

NRG will build the facility, expected to be operational next year, on 70 acres (28 hectares) at its Wharton Generating Station in northwest Houston, according to a release.

NRG, the second largest power producer in Texas, plans to use photovoltaic modules manufactured by First Solar Inc (FSLR).

The agreement is subject to approval by the Houston City Council and the mayor.

Ten megawatts is roughly 6 percent of the city’s annual consumption. One megawatt serves about 500 homes in Texas.

Texas is already the leading wind-power state with installed capacity of 8,100 megawatts and a number of utilities and municipal utilities are exploring options to add other renewable power resources, such as solar and biomass.

NRG is also working to develop a 92-MW solar thermal power plant in New Mexico as part of its plan to have 500 MW of solar generation in its U.S. generating fleet of 24,000 MW.

(Reporting by Eileen O’Grady; Editing by Marguerita Choy)

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