First Solar Sells 250MW Silver State South Project to a Subsidiary of NextEra Energy Resources

published: 2013-11-01 23:22 | editor: | category: News
First Solar, Inc. announced on October 31st that it has agreed to sell the 250-megawatt (MW)AC Silver State South Solar Project to a subsidiary of NextEra Energy Resources.
 
The deal is expected to close early in 2014, subject to certain conditions precedent. Terms of the transaction were not disclosed.
 
Silver State South is located on approximately 3,000 acres of public land in Clark County, Nev. The project is adjacent to the 50MWAC Silver State North project, which was developed and built by First Solar and commissioned in 2012.
 
First Solar will continue to develop and permit Silver State South, and provide Engineering, Procurement and Construction (EPC) services for the project. Construction is expected to begin once final regulatory and permitting approvals have been received, and be completed in late 2016. At peak activity, the project will create up to 300 full-time construction jobs.
 
Silver State South will utilize First Solar's photovoltaic thin film solar modules, installed on the company's single-axis tracker mounting system. All the power from Silver State South will be sold to Southern California Edison under a long-term power purchase agreement.
 
Earlier this month, NextEra Energy Resources named First Solar as the EPC contractor for its 250MWAC McCoy Solar Energy Project in Riverside County, Calif.
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