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First Solar selling 200 MW in India, powers up Moapa

Solar park in California equipped by First Solar. Author: Russ Ferriday. License: Creative Commons, Attribution-ShareAlike 2.0 Generic

March 20 (Renewables Now) - First Solar Inc (NASDAQ:FSLR) is looking to dispose of about 190 MW-200 MW of solar power plants in India, business daily Mint said, citing sources.

The US company is already in talks with potential buyers, according to the report. One of the newspaper’s sources told it the enterprise value of the transaction could be around USD 200 million (EUR 186m).

A First Solar India representative has declined to comment. They told Mint that First Solar is still evaluating participating in future state and central solar auctions.

First Solar makes photovoltaic (PV) modules and it is also the number-one global solar engineering, procurement, and construction (EPC) contractor. On Friday it and the Moapa Band of Paiutes on Friday marked the commissioning of the 250-MW Moapa Southern Paiute solar photovoltaic (PV) park. They say this is the first-ever utility-scale solar power plant to be built on tribal land.

The PV park has a 25-year power purchase agreement (PPA) with the Los Angeles Department of Water and Power (LADWP).

“As a first-of-its-kind project, the Moapa Southern Paiute Solar Project signifies our role as a leader in Indian Country, creating a template for other tribes to follow. If our small tribe can accomplish this, then others can also,” said Darren Daboda, chairman of the Moapa Band of Paiutes Tribal Council.

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for seven years now. She's got a soft spot for emerging markets.

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