NRG To Acquire US Solar Project Portfolio

NRG Solar has entered into an agreement with US Solar, an affiliate of Arclight Capital Partners LLC, to acquire a portfolio of nine solar development projects on nine sites in California and Arizona. The purchase price was not disclosed.

The development projects acquired range in size from 20 megawatts (MW) to 99 MW with the potential to be operational between 2011 and 2013. The acquisition nearly doubles NRG Solar’s projects under development to 1,150 MW.

“US Solar has developed a project pipeline that gives us strategic depth in promising solar markets in which there is a public policy commitment to use this zero-emission, domestic peak period energy source,” said David Crane, NRG’s president and CEO. “We expect the American public will increasingly demand that their energy come from these type of sources as they are confronted with the ever increasing human, environmental and strategic cost of our national dependence on fossil fuels.”

NRG Solar is responsible for developing, constructing, financing and operating a multi-technology portfolio of solar power assets in North America. NRG now operates the largest photovoltaic solar project in California, a 21 MW facility in Blythe.

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