PG&E cancels solar power contract with BrightSource Energy
BrightSource said the contracts were terminated because of uncertainty around the timing of transmission upgrades
PG&E had been planning to buy power from BrightSource's planned 250 MW Hidden Hills solar-thermal power plants, according to the report. The plans for the purchase of the power were canceled on the same day BrightSource asked regulators to suspend permitting for the $2.7 billion project.
BrightSource said the contracts were terminated because of "uncertainty around the timing of transmission upgrades." This is the second time this year BrightSource has announced a contract cancellation, according to reports.
In January, Edison International (NYSE: EIX) and BrightSource mutually terminated an agreement for the Rio Mesa 2 project, also in California.