Buyer nears for Riverside solar project
The bankrupt developer of a massive solar energy project near Blythe, in Riverside County, received a $43.3 million lifeline this week.
Bloomberg News reported that another company, NextEra Energy Resources, could emerge as a buyer of the company. NextEra provided the financing for Solar Trust, which is undergoing bankruptcy proceedings in U.S. Bankruptcy Court.
Solar Trust of America’s German parent company, Solar Millennium, filed for bankruptcy last year.
The 1,000 megawatt Riverside County project, near Blythe, would have been the largest solar plant in the world. The company also owned the nearby 500 megawatt Palen project.
The project could be revived if NextEra succeeds in purchasing the company.
State buildings to be more efficient
California Gov. Jerry Brown issued an executive order this week imposing strict new standards on state buildings and ordering them to reduce their greenhouse gas emissions.
The move would require state agencies to cut emissions by at least 10 percent by 2015 and 20 percent by 2020, compared to 2010 levels. All new state buildings would be required to be “zero net energy” structures. Renovations of structures over 10,000 square feet would be required to use on-site renewable power generation “if economically feasible,” the order says.
The move could prompt increased demand for electricity from renewable energy projects in the state.
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