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

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 10, 2024
Dallas, Texas USA
Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Napa, USA