Power purchase agreement signed for solar power project

Valos Solar Ventures LLC signed a 20-year power purchase agreement (PPA) with Pacific Gas & Electric (PG&E, NYSE: PCG) for its 20 MW SKIC Solar 1 site located near Bakersfield, Calif.

The California Public Utility Commission’s approval for SKIC Solar 1 is expected in October, and construction is set to begin no later than August 2013. Under the terms of the PPA, the project will begin selling power into the California market by April 2014.

Gehrlicher Solar America Corp. will be the engineering, procurement and construction (EPC) contractor for the SKIC Solar 1 project. Valos signed a Joint Development Agreement with GSAC in July 2012.

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