Mar 15, 2013 - A 15-MW wind and solar power plant will be built on the Pacific island of Guam by local company Pacific Green Resources under a contract awarded by the Guam Power Authority (GPA).
The contract, under which the power authority will buy wind power for 20 years and solar power for 25 years, is worth about USD 294 million (EUR 225m), according to Pacific Daily News.
The project will consists of about 10 MW wind and 5 MW solar, with the output to be supplied to the power grid and serve almost 2200 homes, the GPA said it a statement before the signing ceremony on Thursday. This is the second renewable energy contract for the power authority, which has a target of having renewables account for 5% of net sales by December 2015. GPA aims to reduce the island's reliance on imported oil for electricity generation.