Solar photovoltaic power purchase agreement signed by PG&E

Pacific Gas and Electric Co. (NYSE: PCG) and Sempra Generation, a unit of Sempra Energy (NYSE: SRE), signed a 25-year contract for the total output from a 150 MW expansion of Sempra’s Copper Mountain Solar complex in Boulder City, Nev.

First Solar (NASDAQ: FSLR) will provide the ground mounted thin-film panels and serve as the engineering, procurement and construction (EPC) contractor for the project.

The first 92 MW of solar panels at Copper Mountain Solar 2 are expected to be installed by January 2013. The remaining 58 MW is slated for completion by 2015. Construction is expected to begin in early 2012.

Under terms of the contract, PG&E has the option to accelerate the commercial operation date of the second phase.

Sempra Generation and First Solar worked together on the 48 MW Phase I of Copper Mountain, which was completed in late 2010. PG&E signed a power purchase agreement for all of the output from the first phase.

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