Exelon and First Solar defer change of ownership of AVSR PV project

Financials

  • FSLR
    NASDAQ
    70.00
    0.00 (0.00%)
    4:00PM EDT

Exelon and First Solar have extended their deadline for initial funding of the DOE loan for the 230MW Antelope Valley Solar Ranch One (AVSR) project, in northern Los Angeles County, California. A revised construction permit has been approved but the delay could mean First Solar has to repurchase the project from customer Exelon from February 24, 2012, as federal loan and loan guarantees would not be released in time of contract clauses kicking-in.

The new deadline for initial funding of the DOE loan has been moved to April 6, 2012, to allow the expected time for the initial funding to be in place.

The extended deadline means the risk of First Solar repurchasing the project has diminished. Construction of AVSR has not been affected.

PV-Tech Storage Promo

Newsletter

Preview Latest
Subscribe
We won't share your details - promise!
Next Generation Solar PV Finance

Publications

  • Photovoltaics International 24th Edition

    Signs earlier in the year of the global industry entering a growth phase have now been confirmed beyond any doubt. Almost all the big-name suppliers have now announced some form of manufacturing capacity expansion, a trend that analysts agree will only gather pace as long as the levels of demand predicted over the next few years turn out to be correct.

  • Manufacturing The Solar Future: The 2014 Production Annual

    Although the past few years have proved extremely testing for PV equipment manufacturers, falling module prices have driven solar end-market demand to previously unseen levels. That demand is now starting to be felt by manufacturers, to the extent that leading companies are starting to talk about serious capacity expansions later this year and into 2015. This means that the next 12 months will be a critical period if companies throughout the supply chain are to take full advantage of the PV industry’s next growth phase.

Partners

Acknowledgements

Solar Media