Solar power projects to be built by NRG and PsomasFMG

PsomasFMG LLC and NRG Solar LLC, a division of NRG Energy Inc. (NYSE: NRG), said they plan to develop jointly an initial portfolio of solar projects totaling over 11 MW. The two largest projects are a 7.3 MW project for the William S. Hart School District in Santa Clarita, Calif., and a 3.3 MW project in Orange County, Calif.

All of the projects include signed power purchase agreements with the facility owners to buy the solar-generated electricity.

PsomasFMG will design and manage the construction of the projects through an EPC contractor, while NRG will provide raw materials such as solar panels and power inverters, plus financial resources. The companies will split revenues according to the contributions made for each project.

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