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California Panel Recommends Solar Millennium Project (Correct)
2010-08-13 14:39:28.527 GMT
(Corrects in third paragraph to say cost estimate is for
first two plants, in story published yesterday.)
By Ehren Goossens
Aug. 12 (Bloomberg New Energy Finance) -- Solar Millennium
AG's planned 1-gigawatt Blythe solar-power complex received a
favorable recommendation from a California Energy Commission
committee, moving the project closer to approval.
The panel found that the project would have no significant
environmental impact and complies with laws and regulations,
according to a filing yesterday with the state agency. The
proposal now faces a 30-day public comment period before being
considered for approval by the commission.
Solar Millennium, based in Erlangen, Germany, applied in
August 2009 for the project, which would include four identical
250-megawatt solar-thermal power plants. The company and a
Chevron Corp. unit are developing the plants, the first two of
which may cost about $3 billion to build, according to Bloomberg
New Energy Finance estimates.
The project, which would use parabolic mirrors to focus
sunlight and generate steam to produce electricity, still awaits
a final environmental impact assessment from the federal Bureau
of Land Management, which gave initial approval in March. The
power plants would be on land managed by the bureau about 8
miles (13 kilometers) west of the city of Blythe.
State regulators approved a 20-year contract in July for
Edison International's Southern California Edison unit to buy
484 megawatts of electricity from the project's first two
plants, with deliveries starting June 30, 2014.
Solar Trust of America LLC, a joint venture between Solar
Millennium and Essen, Germany-based industrial contractor
Ferrostaal AG, will build the project. Abu Dhabi-based
International Petroleum Investment Co. holds a majority stake in
the contractor.
For Related News and Information:
Solar Millennium financial data: S2M GR <Equity> CH1 <GO>
California and solar power: TNI CA SOLAR <GO>
Top energy stories; TOP NRG <GO>
--Editors: John Lear, Stephen West
To contact the reporter on this story:
Ehren Goossens in New York at +1-212-617-7155 or
egoossens1@bloomberg.net
To contact the editor responsible for this story:
Ethan Zindler at +1-202-654-1276 or ezindler@bloomberg.net
S2M GR <Equity> CN
CVX US <Equity> CN
EIX US <Equity> CN
