Starwood Energy Group Global, LLC, and Arizona Public Service Co. have signed a Power Purchase Agreement (PPA), a precondition to Lockheed Martin’s (NYSE: LMT) involvement to design and build a 290-megawatt (MW) Concentrated Solar Power (CSP) plant.
The project, named Starwood Solar I, will be owned by an affiliate of Starwood Energy.
APS is the principal subsidiary of Pinnacle West Capital Corp. (NYSE: PNW)
Lockheed Martin, as Starwood Energy’s exclusive partner, will serve as the project’s Engineering, Procurement and Construction (EPC) contractor.
The project is scheduled for completion in 2013, pending regulatory approval.
Starwood Solar I will be constructed on 1,880 acres that will contain more than 3,000 100-meter parabolic troughs. The plant will be built in the Harquahala Valley, approximately 75 miles west of Phoenix. It will produce enough electricity for nearly 73,000 APS customers.
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