Denver-based Abengoa Solar, a subsidiary of Abengoa S.A., a $4-billion multinational company based in Spain, recently signed a contract with Phoenix-based Arizona Public Service Co. (APS) to build, own, and operate what would be the largest solar power plant in the world, if operating today. The plant, scheduled to go into operation by 2011, is located 70 miles southwest of Phoenix and will sell the electricity produced to APS over the next 30 years for a total revenue of around $4 billion, bringing more than $1 billion in economic benefits to the State of Arizona.

The solar plant, named Solana, will have a total capacity of 280MW.