PG & E Corps.'s Pacific Gas and Electric utility has signed a contract with Luz II LLC to buy at least 500 megawatts of solar energy that will power up to 350,000 customers, beginning in the spring of 2010.
Luz is waiting for approval on its plans to build hybrid solar-gas design plants that can dispatch electricity all day.
PG & E currently plans to add 300 megawatts of renewable electric power, including wind, solar and geothermal, a year to its supply. The company currently has 12,000 solar customers who generate about 88 megawatts of solar electricity.
PG & E shares rose to $41.55 on the NYSE.
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