Jun 24, 2013 - US renewable energy firm K Road Power LLC on Thursday said it had decided not to proceed with a 294-MW solar project in southern California.
The company, backed by the investment banking division of Barclays (LON:BARC), said it had made a request to surrender its 2010 permit for the Calico project and had also withdrawn its proposal to change the original design for the area. It cited the "changed market conditions" as the reason for the decision and said it aimed to have the licence terminated before June 30.
K Road took possession of the photovlotaic (PV) project, which was originally an 850-MW solar thermal scheme, back in 2010 from Tessera Solar. Last June it filed an amendment with the California Energy Commission (CEC) to switch 618 MW of the approved capacity to PV, with up to 294 MW of that to be installed as a first stage.
In December 2012 it told regulators it had some transmission problems at the site that might affect the project's schedule and its interconnection contract.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.