Monday, August 25, 2008

Two Deals For Renewable Power

I was researching last week and came across two articles, one was regarding PG&E's plans to buy 800 megawatts of solar power, the other was Southern California Edison just signed a 20-year contract for 909 megawatts of wind power. I believe that both of this companies are doing this in an effort to meet the state's renewable portfolio standard.

For SCE it will provide more than 10% of its renewable power. As for the PG&E's plans it should provide electricity to at least 239,000 homes and hopeful that it would increase their renewable energy to 24% by 2013. Since they are required to have at least 20% of their electricity come from renewable energy sources by the year 2010, these two deals should help them reach that goal.

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