NextEra Wins Auction for World’s Biggest Solar Project
Stock Chart for NextEra Energy Inc (NEE)
NextEra Energy Inc. (NEE), the largest wind- and solar-power operator in the U.S., plans to buy the 1,000-megawatt Blythe project in Riverside County, California, which would be the world’s largest solar farm when complete.
NextEra made “the highest and best bid after a spirited auction with good results for the debtors,” Donald Detweiler, an attorney with Pepper Hamilton LLP and counsel to the committee of unsecured creditors, said in a voice-mail message yesterday. He didn’t provide a price.
The winner of the auction couldn’t immediately be confirmed in court papers. The auction was held yesterday in Wilmington, Delaware, and a hearing to confirm the sale is scheduled for June 27.
NextEra’s bid is for rights to complete development of Blythe, including transmission access and land-use permits. A contract Solar Trust previously obtained with Edison International’s Southern California Edison would need to be renegotiated with a buyer of the project, Marc Ulrich, the utility’s vice president of alternative and renewable power, said in April.
To contact the editor responsible for this story: Reed Landberg at firstname.lastname@example.org
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.