PRINCETON, N.J. (AP) -- Power provider NRG Energy Inc. and solar panel makers MidAmerican Solar and First Solar Inc. said Monday that their photovoltaic power plant project in Arizona is more than two-thirds complete and delivering more than 200 megawatts to the electric grid.
The companies say that the Agua Caliente solar project in Yuma County is set to have 290 megawatts in total. The plant is owned by NRG and MidAmerican Solar and will be run and maintained by First Solar.
The project, which is being financed with support from a loan guarantee from the U.S. Department of Energy, is expected to be finished in 2014.
Shares of NRG Energy fell 12 cents to $17.48 in afternoon trading, while First Solar Inc.'s stock added $1.04, or 7.3 percent, to $15.21.
First Solar and other solar companies have struggled in recent years because the prices of solar panels have dropped.
In a note to clients, Jefferies & Co. analyst Jesse Pichel said prices for solar panels are still falling, but the decline has slowed and prices could reach a low point later in 2012. Pichel said demand is increasing, and prices are stronger in the U.S. than in Europe.
