North Coast Solar Stocks

November 23, 2009

First Solar Sells California Solar Power Project to NRG

Filed under: EIX, FSLR, NRG — Tags: , , , , — Jason @ 8:00 am

21 Megawatt Blythe Project is California’s Largest Photovoltaic Facility

8:00 am EST, Monday November 23, 2009

TEMPE, Ariz.–(BUSINESS WIRE)–First Solar, Inc. (FSLR), today announced the sale of the 21 megawatt (MW) AC solar energy project it has developed and constructed in Blythe, Calif., to NRG Energy, Inc (NRG).

Located in Riverside County about 200 miles east of Los Angeles, the Blythe project is California’s first and largest utility-scale photovoltaic (PV) solar generation facility, and among the largest in North America. Construction began in September and is expected to be completed by year-end. Electricity from the plant will be sold to Southern California Edison (EIX) under a 20-year power purchase agreement.

“First Solar is very pleased that the first of our utility-scale solar projects in California will be coming on line with a leading power producer like NRG,” said Bruce Sohn, president of First Solar. “This clean, affordable, and sustainable energy will help California meet the goals of its Renewable Portfolio Standard.”

Using First Solar’s industry-leading thin film PV panels that convert sunlight directly into electricity with no water consumption during operation, the project will generate over 45,000 megawatt-hours of electricity per year. The solar generation displaces over 12,000 tons of carbon dioxide emissions per year—the equivalent of taking 2,200 cars off the road. The construction of this project created 175 green jobs.

First Solar will provide operations and maintenance services at Blythe under a long-term contract with NRG. Financial terms of the agreement were not disclosed.

First Solar is developing 1,300 megawatts of PV solar projects under contracts with utilities in California and the Southwest.

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