First Solar acquires power project in the US for undisclosed fee

02 April 2013 03:08  [Source: ICIS news]

SINGAPORE (ICIS)--First Solar has acquired a 150-megawatt (MW) power project to be built in southern California, the US, the US photovoltaic (PV) maker said late on Monday.

The company in a statement said that it bought the project from Goldman Sachs Group, energy investment company Energy Power Partners and a third equity partner that it did not name.

The construction of the Solar Gen 2 power project in California is expected to start this year and is scheduled to be completed in 2014, it said in a statement.

The plant will generate enough electricity to power more than 60,000 average California homes, it added.

Financial terms of the acquisition were not disclosed.

The acquisition includes 40 MWDC of solar modules that the project previously purchased from another supplier, which will be integrated into the installation, it said.

First Solar will supply the balance of modules for the power plant, along with its project development, engineering, procurement and construction (EPC), and grid integration services, the statement added.

By: Nurluqman Suratman

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