Valos Solar Ventures Signs with Pacific Gas & Electric

Valos Solar Ventures (“Valos”) announced today that it has signed a 20-year Power Purchase Agreement (“PPA”) with Pacific Gas & Electric (“PG&E”) for its 20 MW SKIC Solar 1 site located near Bakersfield, California. California Public Utility Commission approval for SKIC Solar 1 is expected in October, and construction is set to begin no later than August 2013. The project will begin selling power into the California market by April 2014, per the terms of the PPA. “We are excited about signing this PPA and executing on our solar strategy in California,” said Valos CEO, Hugh Tarpley. “As equipment prices have continued to decline, we believe Valos can bring cost effective solar power to the market.” Valos COO Lori Cuervo added, “Our SKIC Solar 1 project has already received its conditional use permit, and we anticipate our interconnection agreement with PG&E to be signed by November. We are pleased that interconnection costs on this project are relatively low compared to other areas in the state.”