PG&E Corp. (PCG:US), the owner of California’s largest utility, received approval from regulators to buy power from a 100-megawatt solar farm that SunPower Corp. plans to build in the state.
The California Public Utilities Commission approved the 20- year deal in a meeting today in San Francisco. The price wasn’t disclosed.
SunPower’s Henrietta Solar project near Lemoore Station, California, about 35 miles (56 kilometers) south of Fresno, is expected to begin producing power in October 2016, according to a commission filing. The contract will help PG&E comply with a state law that requires utilities to obtain a quarter of their energy from renewable sources by 2016 and a third by 2020.
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