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Topaz Solar gets paid for March deliveries to PG&E

A piece of the Topaz solar complex. Author: Pacific Southwest Region. License: Creative Commons, Attribution 2.0 Generic

April 26 (Renewables Now) - Topaz Solar Farms LLC, the holding company for the 550-MW Topaz solar power station in California, has received full contract payment for its March 2019 energy deliveries to local utility Pacific Gas and Electric Company (PG&E).

The firm said in a statement on Thursday that it continues to perform its obligations under the power purchase agreement (PPA) with PG&E, whose parent, PG&E Corporation (NYSE:PCG), filed a voluntary petition under Chapter 11 of the US Bankruptcy Code in late January 2019.

Topaz Solar Farms previously got a full contract payment for its February 2019 energy deliveries and for January 2019 post-petition energy deliveries. Because of PG&E’s situation, the solar plant operator suffered a couple of rating downgrades in January.

Topaz was built in San Luis Obispo County by First Solar Inc (NASDAQ:FSLR) and uses thin-film photovoltaic (PV) panels supplied by the latter. The USD-2.4-billion (EUR 2.15bn) plant has been fully operational since end-February 2015 and is currently owned by BHE Renewables LLC (BHER).

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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