K Road Cancels Plans for 294-Megawatt California Solar Project
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K Road Power LLC, a closely held renewable energy developer backed by Barclays Plc’s investment-banking unit, canceled plans to build a 294-megawatt solar power plant in southern California.
K Road intends to surrender to regulators a 2010 permit for its Calico project and has withdrawn its request to amend the original design for the site, the New York-based company said today in a filing with the California Energy Commission. “Due to changed market conditions, we will not be able to move this project forward, either as licensed or as proposed to be amended,” it said.