Sempra Generation Wants To Own 500 MW Of Solar

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http://money.cnn.com/news/newsfeeds/articles/djf500/200807251029DOWJONESDJONLINE000608_FORTUNE5.htm

Sempra Generation's contract to buy a 10-megawatt solar plant built by First Solar Inc. (FSLR) is part of a larger plan to own 500 megawatts of solar power-generating facilities, Michael W. Allman, president and chief executive of the subsidiary of Sempra Energy (SRE), told Clean Technology Investor.

First Solar already is building the solar facility adjacent to Sempra's existing El Dorado Energy gas-fired power plant near Boulder City, Nev., through a deal that's worth about $50 million, according to an estimate by John Hardy, an analyst with American Technology Research. It's due to be complete by the end of the year. First Solar will design, engineer, construct, and provide monitoring and maintenance for the project.

"We hope that this is the first of many different projects we develop in the renewables space," Allman said. "I'd like to be the first company to have 500 MW of solar power owned and under operation."

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San Diego-based Sempra also is actively pursuing wind projects. Allman said there is no concrete goal yet as to how much wind energy-producing capacity the company would like to own. Another executive at Sempra previously told Clean Technology Investor that the company allocated about $500 million in its immediate budget for renewable energy, but Allman said the budget isn't yet settled.

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