Sep 26, 2013 - US-based First Solar Inc (NASDAQ:FSLR) said Thursday it had bought the 250-MW Moapa solar project in Nevada from developer K Road Power Holdings LLC for an undisclosed amount.
The facility will be built on the Moapa River Indian Reservation in Clark County using First Solar’s cadmium telluride (CdTe) thin film solar modules. It is touted as the first large-scale solar park on tribal land to receive the green light in North America.
The facility is in the advanced stages of development. It already has a 25-year power purchase agreement (PPA) in place with the Los Angeles Department of Water and Power (LADWP). Solar module maker and project developer First Solar said that construction can commence as early as the closing quarter of this year. Completion is possible by end-2015. The new owner of the Moapa solar project is to design and build the facility, it said.
The solar park is estimated to produce enough electricity to cover the demand of some 100,000 US households in its first 12 months of operation, First Solar said. Furthermore, it will avoid the release of over 178,000 tonnes of carbon dioxide into the atmosphere and save 142,000 tonnes of water annually.
First Solar noted that apart from its environmental benefits, the Moapa solar project will also boost tribal economic competitiveness and provide employment.
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