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First Solar selling, buying solar P.V. projects in California

Thin-film solar photovoltaic company, First Solar, Inc., has sold its 139-megawatt Campo Verde Solar Project in Imperial Country, California.

The project was sold to Southern Company subsidiary Southern Power and Turner Renewable Energy for an undisclosed amount.

Under the terms of the agreement, First Solar will continue to construct Campo Verde as well as maintain and operate it for Southern Power and Turner Renewable Energy for ten years.

Construction on Campo Verde began in December 2012 and commercial operation is expected by fall of 2013.

The power from Campo Verde will be sold to the San Diego Gas and Electric Company under the terms of a 20-year power purchase agreement.

The Campo Verde project is expected to generate enough clean electricity to power nearly 48,000 homes and displace 80,000 metric tons of carbon dioxide a year.

This is the second project that First Solar has designed and constructed for Southern Power and Turner Renewable Energy. In 2010, First Solar sold the 30-MW project Cimarron I in New Mexico to Southern Power and Turner Renewable Energy.

While it may have sold the Campo Verde project, just this April, it also acquired two additional projects in California.

From NorthLight Power, LLC, First Solar acquired the 60-MW North Star solar project in Fresno County.

North Star is expected to start construction in 2014 and be completed in 2015. It will produce enough power for 21,000 homes and prevent 39,000 metric tons of carbon dioxide per year.

The project is also under a 20-year power purchase agreement, this time with Pacific Gas and Electric Company.

From an affiliate of the Goldman Sachs Group, Energy Power Partners and a third equity partner, First Solar acquired the 150-MW Solar Gen 2 project in Imperial County.

The Solar Gen 2 project is expected to start construction this year and be completed in 2014. It will generate power for more than 60,000 homes and avoid around 115,000 metric tons of carbon dioxide annually.

Power from Solar Gen 2 will go to San Diego Gas and Electric Company under a 25-year power purchase agreement.

First Solar manufactures thin film photovoltaic modules using cadmium telluride. The company recently released its full-year 2013 guidance, in which it stated the expectancy of between 1.6 to 1.8 gigawatts total module shipments for the year. – EcoSeed Staff



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