Tuesday, December 22, 2009

SolarReserve In Deal with NV Energy

Santa Monica-based SolarReserve, a developer of utility-scale solar power projects, announced today that the firm has inked a 25-year, power purchase agreement (PPA) with NV Energy. The firm said the deal will supply approximately 480,000 megawatt hours annually from its 100-megawatt, Tonopah Solar Energy project being developed near Tonopah, Nevada. Financial details of the PPA were not disclosed. SolarReserve develops solar power projects using molten salt technology. The company is backed by Argonaut Private Equity, Citi, Credit Suisse, Good Energies, Nimes Capital, PCG Clean Energy & Technology Fund, and US Renewables Group.