SAN FRANCISCO (AP) ? PG&E and Sempra Energy subsidiary Sempra Generation said Thursday that they signed a 25-year contract under which PG&E will receive 150 megawatts of solar power from Sempra.
The companies said the power will come from an expansion of Sempra’s Boulder City, Nev.-based solar site, the construction on which is planned to start early next year.
The companies said they expect to have the first 92 megawatts of solar panels installed by January 2013. The rest are scheduled to be installed by 2015, though PG&E has the option to speed up this installation period.
The solar plant, which will cover 1,100 acres when completed, will be able to power 45,000 homes, the companies said.
The project’s solar panels will come from First Solar, which is also the construction, engineering and supply procurement contractor.
PG&E shares rose 6 cents to $40.71 in extended trading. The stock finished regular trading Thursday up 17 cents at $40.65.