Mojave Solar Project Power Purchase Agreement Approved

On November 10, 2011, by a vote of 4-1 the California Public Utilities Commission (CPUC) approved the Power Purchase Agreement for the Mojave Solar Project, owned by Abengoa Solar, a Spanish corporation with significant energy holdings on three continents.

Goodin MacBride partner Michael Day represented the Mojave Solar Project at the CPUC during the approval process, which involved extensive technical discussions regarding the appropriate price comparisons for renewable energy projects. The 250-megawatt concentrated solar power plant, which will be constructed in San Bernardino County, will sell energy to Pacific Gas & Electric Co. over a 25 year period. Recent changes in the solar power market raised issues about renewable contract pricing when bids submitted to the 2011 Renewable Power Standard solicitations reflected substantial decreases in the cost of photovoltaic power.

The Commission approved the Mojave Solar Project based upon the arguments advanced by the project sponsor Abengoa and Goodin MacBride to the effect that fully financed, ready-to-build projects that have been under development for over five years will necessarily include a higher level of costs that the most recent RPS bids will not reflect.

Goodin MacBride partners represent a variety of renewable energy project developers in matters before the CPUC.

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