First Solar acquires 60 MWAC North Star project from NorthLight Power
Thursday, Apr 11, 2013
First Solar, Inc. (Nasdaq: FSLR) and NorthLight Power, LLC today announced that First Solar has acquired the 60 megawattAC (MW) North Star solar project that NorthLight has developed in Fresno County, Calif. NorthLight is a joint venture of Renewable Energy Corporation ASA and Summit Power Group, LLC. Terms of the transaction were not disclosed.
“We’re excited to be acquiring and constructing our first utility-scale photovoltaic power project in Fresno County”
The photovoltaic (PV) solar plant is expected to start construction in 2014 and be completed in 2015, providing up to 410 construction jobs. When fully operational, it will produce enough clean, renewable energy to power over 21,000 average California homes while displacing approximately 33,000 metric tons of water consumption and 39,000 metric tons of CO2 per year—the equivalent of taking about 7,500 cars off the road each year.
The North Star project is located near the city of Mendota and has a 20-year power purchase agreement with Pacific Gas and Electric Company.
“We’re excited to be acquiring and constructing our first utility-scale photovoltaic power project in Fresno County,” said James F. Cook, First Solar Director of Project Development. “North Star will provide much-needed construction employment in a hard-hit economy, while helping the state satisfy its renewable energy requirements.”
“Summit Power Group is pleased to be working with First Solar on this project,” said Dana Zentz, Vice President of Commercial Development for Summit and Managing Director of NorthLight Power. “We have received and been thankful for tremendous support from the local community, and look forward to continuing success with other solar projects that are in our current development portfolio within NorthLight Power.“
Source: Business Wire