03/18/2010 05:12 am ET Updated May 25, 2011

California Utilities Push For Solar, Wind And Carbon-Capture Projects

California regulators went out of this world today and gave the go-ahead to a power-purchase agreement involving the nation's first solar power plant in space.

Pacific Gas & Electric Co., the state's largest utility, will proceed with a 15-year contract with Manhattan Beach start-up Solaren Corp., after receiving approval from the California Public Utilities Commission.

The project, which is expected to go live in 2016, will use solar cells from Solaren on orbiting satellites to convert energy from the sun into radio-frequency waves. The waves will be transmitted to a receiving station near Fresno and reverted back into electricity.

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