Carlyle (?!?), Florida Power & Light Buying Stake in CA Solar Companies

[hatrack]

LOS ANGELES - FPL Group Inc. Tuesday said it has bought a large minority stake in five solar power assets in California, cementing its position as the biggest US generator of solar and wind power.

FPL Energy, a unit of the FPL Group, said it bought five 30-megawatt solar energy generating systems (SEGS) in California's Mojave Desert with private equity fund Carlyle/Riverstone. It did not disclose financial details. The SEGS were purchased from a diverse group of limited partners, a company spokesman said.

Juno Beach, Florida-based FPL Energy will operate the plants and own a 45 percent stake. Carlyle/Riverstone will own 49 percent, with the rest held by a group of limited partners.

The projects have long-term contracts to sell all of their power to utility Southern California Edison, a unit of Edison International. The SEGS, which were developed in the mid-1980s, mainly produce electricity during periods of high demand such as hot summer afternoons when there is heavy use of air-conditioning systems in California.

EDIT

http://www.planetark.com/dailynewsstory.cfm/newsid/29328/story.htm

[Liberty Belle]

1. There goes the neighborhood. Dang.

They'll bury the solar, no doubt, so they can build more oil-burning power plants instead.

[Coastie for Truth]

4. You might say like GM did

with electric vehicles (as per their hydride battery and magnequench frivolous and abusive lawsuits).

Did you know that BP has a bushel basket of photovoltaic patents (no production - they buy photovoltaic cells from China, brand them, and say that they are in the business).

Just more smoke and mirrors.

[Ian David]

2. Carlyle, as in Dick Cheney's Carlyle Group?

[marc_the_dem]

3. interesting

I live in Florida and received a letter from FPL asking to join a new program they have that promotes clean energy (ie solar) The program is called sunshine energy.

[Coastie for Truth]

5. As in the GM EV Electric car.

Forgive me for being a cynic. I was in the alternative energy industry for the major part of my career. I know how the polluters play.

[ladjf]

6. During the past history of alter energy, the large companies

bought the new alternate energy companies for the sole purpose of
keeping them out of the competition mkt. Usually, after about five years, you never hear another word about the bought company. If this purchase is for real profit through alter energy, it would be a sign
that even the established power companies are seeing the handwriting
on the wall

[NNadir]

7. Sam Wyly, big Bushie, owns "Green Mountain," energy, the world's

largest supplier of wind power.

This of course, has nothing to do with whether or not wind energy is viable or otherwise useful.