The project already received a $1.375 billion conditional commitment for a loan guarantee from the Department of Energy, and ground has been broken. Power from the plant will be purchased by PG&E
A few months ago, we covered NRG's big move into clean energy with a 1,150 MW solar pipeline and a growing list of wind farms. This addition only solidifies NRG's commitment to making the company "greener" as a way to hedge against future risks and get a nice return on the way.
So far, the mammoth-sized projects in the U.S. are being built with concentrated solar, a technology that doesn't work on a small scale and can provide more consistent power than PV. But PV is trying to get in the game and is building larger projects all the time. SunPower
So should we be looking at NRG as a renewable energy company now? These actions are backing up plans for NRG to make a big push into wind and solar so I'm a believer. Plus these investments have less risk than other NRG plants because of their power purchase agreements and a tax shield the investment creates.
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