Power & Utilities
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It is owned by NRG Energy and MidAmerican Energy Holdings and is currently the world's biggest photovoltaic solar power plant. The $1.8bn solar project was originally initiated by NextLight Renewable Power, which was acquired by First Solar on 12 July 2010. In August 2011, NRG Energy acquired the project from First Solar. MidAmerican purchased a 49% stake in the project in January 2012. The solar farm generates enough electricity to serve around 225,000 average homes and will reduce 5.5 million metric tonnes of carbon dioxide emissions annually. Pacific Gas & Electric (PG&E) Company purchases the entire power generated by the plant under a 25-year power purchase agreement (PPA). Agua Caliente was named 'Project of the Year' by Excellence in Renewable Energy Awards in February 2012.