San Diego, December 30, 2010 – K Road Power Holdings unit K Road Sun has acquired the Calico Solar Project from Tessera Solar North America, Inc.
Calico Solar, located near Barstow, Calif., is one of California’s few fully permitted utility scale solar power facilities. Calico Solar has an interconnection agreement to supply 850 MW, enjoys strong support from the state of California and is positioned to contract financeable power purchase agreements with California’s leading retail power suppliers.
Total capital investment is estimated to be $3 billion. Once in operation the Calico Solar project will provide clean, reliable, California based renewable energy to meet the annual demand of up to 350,000 California households.
“While 100 MW of Phase 2 will be reserved for new generations of SES SunCatcher technology, K Road’s Calico Solar Project will convert the first 750 MWs to widely tested and accepted photovoltaic technology, insuring the project’s immediate financeability, further reducing environmental impacts, and providing the lowest cost solar production to help meet California’s renewable portfolio standard,” said William Kriegel, K Road’s founder and Chief Executive Officer.
K Road Sun is exclusively dedicated to developing, owning, and operating utility scale solar power facilities in the western United States. The K Road team has a unique, proven track record in power generation with decades of experience developing, constructing and operating generation plants worldwide, including solar, wind, biomass and hydro facilities.