Pacific Gas & Electric Co. announced plans to follow in Southern California Edison’s (SCE) footsteps with equity investments in a large-scale renewable energy project.
The plans will be similar to SCE’s $875 million, 250-megawatt rooftop solar project, explained Peter Darbee, PG&E’s CEO and chairman. He did not disclose other details (i.e., how much the company intends to spend) on the project, which could include not just solar energy, but also wind energy.
Previously, PG&E – along with most other electric companies – worked with third-party renewable energy companies to buy electricity.
PG&E hopes that the new project will show their commitment to renewable. But they’re likely to upset some developers with their plans, depending on the specifics of the project, writes GreenTechMedia.
In the past, SCE and other utility companies like Duke Energy have come under fire for their plans. Darby argued that utility companies are justified in new energy investments because they are some of the only companies not posting losses, making federal tax credits still an advantage.