First Solar starts building 150-MW solar park in California

Sep 23, 2013 - US firm First Solar Inc (NASDAQ:FSLR) on Wednesday said it had initiated construction of the 150-MW Solar Gen 2 photovoltaic (PV) power plant in California.

First Solar bought the project in April from a firm related to Goldman Sachs Group Inc (NYSE:GS), Energy Power Partners and one more equity participant.

Building works are scheduled to end by July 2014. Once completed, the solar system, situated in California’s Imperial County, will produce enough electricity to supply over 60,000 local households and offset over 115,000 tonnes of carbon dioxide (CO2) emissions, First Solar estimates. The facility will operate under a 25-year power purchase agreement (PPA) with San Diego Gas & Electric Company (SDG&E).

During the construction stage, the project is expected to open about 800 job positions and bring nearly USD 150,000 (EUR 111,000) in property taxes. It is also estimated to fetch USD 4.6 million under the Public Benefits Agreement.

Currently, First Solar is installing two more solar plants in California -- the 139-MW Campo Verde in El Centro, to be completed by the end of October, and the 130-MW Tenaska in Calexico.

(USD 1.0 = EUR 0.739)

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