Geothermal power purchase agreement terminated

Pacific Gas & Electric Corp. (NYSE: PCG) told California regulators April 25 that it was withdrawing a terminated geothermal-power contract from the their consideration.

According to The Wall Street Journal, Terra-Gen Power, a unit of Arclight Capital Partners LLC, had agreed to build a 53 MW geothermal power plant in Nevada and sell the power to PG&E under a 25-year power purchase agreement. The electricity was expected to be sold starting in 2013 when the plant is expected to be complete.

A PG&E spokeswoman confirmed in the article that the contract had been terminated.

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