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Massive California Solar Plant Gets More Time to Avoid Default

  • Ivanpah solar farm hasn't produced at levels owners guaranteed
  • PG&E proposed an agreement to keep plant from defaulting
Updated on

California regulators gave the owners of the world’s biggest solar-thermal power plant more time to avoid defaulting on a contract with Pacific Gas and Electric Co. after failing to supply power they had guaranteed.

The California Public Utilities Commission approved a PG&E proposal at a meeting Thursday that would avert a declaration of default through July 31 if the owners of the Ivanpah solar farm in California’s Mojave Desert pay the utility for shortfalls in generation. Ivanpah is owned by NRG Energy Inc., BrightSource Energy Inc. and Alphabet Inc.’s Google, and operated by NRG.