Monday, July 15, 2013

NRG Solar Buys Project In Guam

Carlsbad-based solar power project developer NRG Solar said Monday that it has acquired a large-scale, solar project on Guam. NRG said the 25.65 megawatt solar project was acquired from Quantum Guam Power Holdings, LLC. Financial details of the acquisition were not disclosed. NRG Solar is a subsidiary of energy giant NRG Energy, and constructs and operates solar power projects. NRG said it will construct, own and operate the solar project which will sell all of its power output to the Guam Power Authority (GPA). Guam, like many other islands, suffers from expensive power, relying on residual fuel oil and diesel to generate 100 percent of its power requirements. The new solar power project is part of an effort to reduce the U.S. territory's reliance on imported oil and diesel.

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