New Energy Solar Buys Two SunPower Power Plants In California

(RTTNews) - New Energy Solar and SunPower Corp. (SPWR) announced that New Energy Solar has acquired a substantial majority interest in two large-scale solar projects, totalling over 134 megawatts or MW, that SunPower developed, designed and constructed in Kern County, California. SunPower will retain an ownership interest in the projects, which each having a capacity of 67.4 MWs, and provide ongoing operation and maintenance services.

Stanford University has a long-term agreement to purchase 100 percent of the power, as well as the renewable energy credits (RECs), generated from one of the projects, the Stanford Solar Generating Station. Turlock Irrigation District (TID) has a similar agreement to buy the power and RECs generated from the second project, the TID Solar Generating Station.

Construction of both projects commenced in the middle of 2015. Both facilities are expected to achieve commercial operation this month.

There are more than 2.6 gigawatts of SunPower solar power plants operating worldwide.