First Solar boosts solar project pipeline with acquisition of NextLight Renewable Power

Facebook
Twitter
LinkedIn
Reddit
Email

Following on from a series of solar project developer acquisitions, First Solar is acquiring NextLight Renewable Power for approximately US$285 million. NextLight has a project pipeline worth 1.1GW, with sites located in the southwestern United States that range in size from 30MW to 290MW. With its project development acquisitions, First Solar has rapidly become a major player in the U.S. utility renewable power market.

“NextLight has assembled a project pipeline that very much complements First Solar’s project portfolio. We are looking forward to having the highly experienced NextLight team join First Solar,” said Rob Gillette, First Solar’s CEO.

The acquisition of NextLight gives First Solar 570MW under signed power purchase agreements with western utilities, which increases the company’s contracted solar project pipeline to 2200MW.
 
According to First Solar, NextLight has an additional 530MW of PV projects that are in various stages of development.

First Solar started targeting the utility market in 2007 with the acquisition of Turner Renewable Energy and continued with the purchases of solar project pipelines from OptiSolar in 2009 and Edison Mission Group in 2010.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Read Next

July 22, 2024
Renewable energy developer Acen Australia has submitted the scoping report for its 100MW solar-plus-storage project in New South Wales.
July 19, 2024
US solar manufacturer First Solar has started an investigation into several crystalline-silicon cell solar manufacturers for potential infringement of its patents.
July 19, 2024
Investment fund Quinbrook Infrastructure Partners and its subsidiary Primergy Solar have reached commercial operations at their 690MWac/966MWdc Gemini solar-plus-storage project in Nevada.
July 19, 2024
The Energy Storage for Resilient Homes Act would allow residents of the two states to use funding from the Federal Emergency Management Agency (FEMA) to purchase residential BESS.
July 19, 2024
SunPower said the decision was not made "lightly" and will consider options to support its mutual customers and collective business pipeline.
July 19, 2024
Sungrow has signed an agreement with Hero Group's renewables arm Hero Future Energies to supply 850MW of inverters.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
July 31, 2024
1:00 PM (BST) / 2:00PM (CEST)
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia
Solar Media Events
October 8, 2024
San Francisco Bay Area, USA