Seminole Electric in talks with Spanish firm for solar plant

Seminole Electric Cooperative Inc. and Renovalia USA Inc. have signed a nonbinding letter of intent to begin negotiations that could lead to a solar power plant in Florida.

Renovalia USA would build the plant and Seminole Electric would buy the electricity produced by it, according to the letter of intent.

The companies have yet to hammer out the exact terms of the purchase agreement, the location of the plant and when it would open. They've agreed to negotiate through the end of the year and could take longer to discuss the deal, the letter of intent says.

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The deal was announced by Gov. Charlie Crist, who wrapped up his 10-day trade and business development mission in Europe with a visit to Renovalia's solar energy facility in Ciudad Real, Spain.

Seminole Electric, headquartered in Tampa, is the who esale power supplier for 10 electric distribution co-ops that serve about 1.7 million individuals and businesses in 48 Florida counties.