NRG Energy has completed its acquisition of the 290 MW Agua Caliente, Arizona, solar project from First Solar. The acquisition was contingent upon the financial closing of the project’s loan guarantee from the US Department of Energy’s Loan Programs Office (DOE).

Agua Caliente is the world’s largest solar PV project currently under construction and is expected to create up to 400 construction jobs through its completion date in 2014.

“The sheer scale of the project will also help drive developments needed for even larger and more efficient clean-energy resources in the future,” said Tom Doyle, CEO of NRG Solar.

Electricity from Agua Caliente will be sold under a 25-year power purchase agreement with Pacific Gas and Electric Company, helping California to meet its ambitious renewable energy goals.

At full capacity, the electricity generated by Agua Caliente is enough to serve more than 225,000 homes. The project is expected to offset approximately 5.5 million tonnes of CO2 over 25 years, the equivalent of taking over 40,000 cars off the road annually.

In related news, NRG Solar and Eurus Energy America Corporation have begun commercial operations at the 45 MW Avenal Solar Generating Facility, the largest solar PV generating facility in California.

When operating at full capacity, the three solar projects generate enough clean, renewable power to meet the needs of 36 000 homes.

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