First Solar Sells Three Utility-Scale Projects

Solar Power WorldDecember 17, 201989

Summary:

First Solar announced that they landed partnerships that have granted them three solar panel installations with a total nameplate design of 278 MW of solar power in the United States.

Main Article:

First Solar Sells Three Utility-Scale Projects

First Solar announced that a partnership composed of EDP Renewables and ConnectGen has completed the acquisition of three solar panel installations with a total nameplate design of 278 MWAC in the United States. First Solar previously disclosed that the sale of these solar energy projects was subject to certain conditions precedent for closing that have since been satisfied.

The projects include the 154-MWAC Sun Streams 1 project in Maricopa County, Arizona, the 20-MWAC Windhub A project in Kern County, California, and the 103-MWAC Sunshine Valley project in Nye County, Nevada. All three solar energy are scheduled to achieve substantial completion by the end of the fourth quarter of 2019.

“These projects reflect EDP Renewables’ focus on value creation, innovation, and sustainability. Combining responsible development with attractive economics backed by long-term Power Purchase Agreements, they are powered by one of the most innovative and eco-efficient solar technologies available today,” said Miguel Prado, Chief Executive Officer, EDP Renewables North America. “We look forward to adding these projects to our growing portfolio in the United States.”

“ConnectGen and First Solar strive to enable a sustainable energy future, and this deal furthers our goal to provide long-term, cost-effective, renewable energy solutions in the United States,” said Caton Fenz, Chief Executive Officer, ConnectGen. “We look forward to working alongside EDP Renewables and with all project stakeholders to responsibly bring these important projects to fruition.”

All three projects are powered by First Solar’s thin-film solar panel technology, developed and innovated in the United States. Once commissioned, the solar energy projects will be operated by First Solar Energy Services, which, with over 10 GW under management, is the solar power industry’s most experienced O&M service provider for large-scale solar power plants.

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