FW: Solar energy project sold to NextEra, GE business unit - Power Engineering

First Solar has a great biz model. Make the panels, develop the project,
offtaker in place from the start.

http://www.power-eng.com/articles/2011/10/solar-energy-project-sold-to-nexte
ra-ge-business-unit.html

Solar energy project sold to NextEra, GE business unit
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Sponsored by FLSmidth

Oct 3, 2011

First Solar Inc. (Nasdaq: FSLR) completed the sale of the 550 MW alternate
current (AC) Desert Sunlight Solar Farm in California to NextEra Energy
Resources LLC (NYSE: NEE) and GE Energy Financial Services. Financial terms
of the deal were not disclosed.
NextEra and GEFS acquired a 50 percent interest each in the Desert Sunlight
project. A unit of NextEra will manage the project. The U.S. Department of
Energy finalized a $1.46 billion loan guarantee for Desert Sunlight on Sept.
29.
First Solar will continue to build, operate and maintain the project under
separate agreements with both companies. The project will use the company's
advanced thin-film photovoltaic (PV) modules from First Solar's factory
under construction in Arizona.
Construction on the project is expected to begin in October and be completed
in early 2015. Southern California Edison signed a power purchase agreement
for 250 MW of output from the plant and Pacific Gas & Electric (NYSE: PCG)
will purchase the remainder of the output.
Read more mergers and acquisitions news

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