Projects, totaling 278MWAC, located in Arizona, California, and Nevada
TEMPE, Ariz. and HOUSTON, Dec. 21, 2019 /PVTIME/ -- US-headquartered First Solar, Inc. (Nasdaq: FSLR) announced December 17 that a partnership composed of EDP Renewables and ConnectGen has completed the acquisition of three projects with a total nameplate design of 278 megawatts (MW)AC in the United States. First Solar previously disclosed that the sale of these projects were subject to certain conditions precedent for closing that have since been satisfied.
The projects include the 154MWAC Sun Streams 1
project in Maricopa County, Arizona, the 20MWAC Windhub A project in
Kern County, California, and the 103MWAC Sunshine Valley project in
Nye County, Nevada. All three projects 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.”
EDP Renewables is a leading global renewable energy company
that operates in markets around the globe. The United States is the company’s
biggest market in terms of installed capacity and production. EDP Renewables
North America commissioned its first two solar parks in California in January
2015, subsequently adding three solar parks in South Carolina to its
operational portfolio.
“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.”
Headquartered in Houston, Texas, ConnectGen develops
renewable energy and energy storage projects across North America. The company
is backed by Quantum Energy Partners, a leading provider of private equity
capital to the global energy industry.
“We’ve proven, once again, that investors are focused on
the winning formula: responsible development, attractive project economics, and
long-term Power Purchase Agreements, underpinned by high-performance PV modules
and a partner that stands behind its commitments,” said Georges Antoun, Chief
Commercial Officer, First Solar. “We thank EDP Renewables and ConnectGen for
their trust and for recognizing the robustness of First Solar’s approach to
project development in the United States.”
All three projects are powered by First Solar’s thin film
module technology, developed and innovated in the United States. Once
commissioned, the projects will be operated by First Solar Energy Services, which, with over 10 gigawatts
(GW) under management, is the solar industry’s most experienced Operations and
Maintenance (O&M) service provider for large-scale solar power plants.
First Solar is celebrating two decades since its founding
in 1999 and 25GWDC of photovoltaic (PV) modules shipped, making it
the only American solar manufacturing company to achieve this
milestone.
SOURCE: First Solar, Inc.
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