Bachman Comments on PG&E; Announced 290MW Solar PPA
Oct 16, 2009
Author: SCP Editor
October 16, 2009 – Analyst Comments – Pacific Crest’s Mark Bachman weighed in on PG&E’s execution of a 290MW solar power purchase agreement. This is the first, of what he expects to be 830MW worth of solar projects from PG&E in the next few weeks.
Key Takeaways
· The 290MW, 25-year PPA with Agua Caliente Solar LLC (subsidiary of NextLight Renewable Power) calls for PV modules and is expected to commence in 2010, and to be completed by 2014. The contract calls for a 27% capacity factor and will exceed the market price referent of $132.90/MWh.
· Believes First Solar (Nasdaq:FSLR), SunPower (Nasdaq:SPWRA), Suntech (NYSE:STP) or Sharp (7503.T) are best positioned to win the business.
