By .(JavaScript must be enabled to view this email address) - 07 December 2011, 12:32
In News, Finance

First Solar set to sell 550MW system

The Topaz Solar Farm is being built in San Luis Obispo County, California and will be completed in 2015.

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MidAmerican Energy Holdings is set to buy First Solar's 550MW Topaz Solar Farm in San Luis Obispo County, California.

Although building work on the US$2 billion system began last week, First Solar has been looking to sell ever since it failed to secure a government loan guarantee to finance construction three months ago.

Completion of the purchase is still dependent on a number of closing conditions, including several relating to permitting and grid connection. A 25-year power purchase agreement to buy the electricity produced by Topaz has been agreed with local utility Pacific Gas and Electric. Further financial details were not disclosed.

Despite the imminent sale, First Solar will still build, operate and maintain the project. Topaz is scheduled for grid connection in 2015.

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Photovoltaics International 16th Edition

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First Solar set to sell 550MW system

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