SAN FRANCISCO (AP) - Pacific Gas and Electric Co. said Friday that it is seeking approval for a 175-megawatt geothermal power purchasing agreement with Calpine Corp.
The agreement consolidates six existing qualifying facility agreements totaling 118 megawatts and adds 57 megawatts of new renewable energy to PG&E's supply, the company said.
With the agreement, PG&E said that 20 percent of its contracts for future energy delivery now meet California's renewable-energy standard.
Starting in September, the agreement will deliver renewable energy from the Geysers Geothermal Field in northern California and provide enough new energy to power 45,000 homes, PG&E said.
PG&E shares fell 28 cents to $39.57 in after-hours trading, after rising 18 cents to $39.85 in the regular session.
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