eSolar In Deal For New Mexico Power Plant

Pasadena-based eSolar, the solar thermal energy technology backed by Idealab, has inked a deal to develop a 92 megawatt, concentrating solar power plant in southern New Mexico. According to El Paso Electric, the energy plant is being developed by NRG Energy and eSolar, and is part of NRG and eSolar's plans to develop up to 500 MW of solar thermal energy across the Southwest US. Financial impact of the deal was not disclosed. El Paso Electric will purchase the power via a power purchase agreement arrangement. The new solar plant is expected to be fully operational in 2011.