Chuck
02-24-2009, 07:38 AM
http://www.cleanmpg.com/photos/data/2/AmericanFlag.jpg Utilities may be required to invest in renewables. (greenwombat.blogs.fortune.cnn.com/2009/02/23/coal-fired-utility-signs-big-solar-deal/)
http://www.cleanmpg.com/photos/data/501/Suniva_PV_Panels.jpgCNN Money - Feb. 23, 2009
New trend? --Ed.
NRG Energy, one of the United States’ most coal-dependent utilities, on Monday signed a deal with California startup eSolar to develop solar power plants.
The agreement calls for NRG to invest $10 million in Pasadena-based eSolar for the right to use the startup’s technology to develop and operate three solar power projects in California and the Southwest that would generate 500 megawatts of greenhouse gas-free electricity. NRG ranks as one of the nation’s dirtiest utilities, spewing 70 million tons of carbon dioxide annually from its coal-fired power plants, according to a 2007 Fortune Magazine story. But the Princeton, N.J.-based Fortune 500 company has sought to clean up its ways under CEO David Crane, pursuing carbon-capture technology and moving to build nuclear power plants.
Last year eSolar, founded by Idealab’s Bill Gross and backed by Google, won a 20-year contract to supply utility Southern California Edison (EIX) with 245 megawatts of green electricity annually. Last April, eSolar scored $130 million in funding from Google.org, Google’s (GOOG) philanthropic arm, and other investors to develop solar thermal technology that Gross claims will produce electricity as cheaply as coal-fired power plants.... http://greenwombat.blogs.fortune.cnn.com/2009/02/23/coal-fired-utility-signs-big-solar-deal/
http://www.cleanmpg.com/photos/data/501/Suniva_PV_Panels.jpgCNN Money - Feb. 23, 2009
New trend? --Ed.
NRG Energy, one of the United States’ most coal-dependent utilities, on Monday signed a deal with California startup eSolar to develop solar power plants.
The agreement calls for NRG to invest $10 million in Pasadena-based eSolar for the right to use the startup’s technology to develop and operate three solar power projects in California and the Southwest that would generate 500 megawatts of greenhouse gas-free electricity. NRG ranks as one of the nation’s dirtiest utilities, spewing 70 million tons of carbon dioxide annually from its coal-fired power plants, according to a 2007 Fortune Magazine story. But the Princeton, N.J.-based Fortune 500 company has sought to clean up its ways under CEO David Crane, pursuing carbon-capture technology and moving to build nuclear power plants.
Last year eSolar, founded by Idealab’s Bill Gross and backed by Google, won a 20-year contract to supply utility Southern California Edison (EIX) with 245 megawatts of green electricity annually. Last April, eSolar scored $130 million in funding from Google.org, Google’s (GOOG) philanthropic arm, and other investors to develop solar thermal technology that Gross claims will produce electricity as cheaply as coal-fired power plants.... http://greenwombat.blogs.fortune.cnn.com/2009/02/23/coal-fired-utility-signs-big-solar-deal/