First Solar has now completed the acquisition of NextLight Renewable Power. The company now owns the power purchase agreements for a total of 2.2GW utility-scale solar projects in North America.
First Solar acquired NextLight in an all-cash transaction valued at approximately US$297 million, subject to finalization of the estimated closing date adjustments.
The 290MW Agua Caliente Solar Project in Yuma County, Arizona is expected to be the first NextLight project to be constructed by First Solar. The California Public Utilities Commission approved the project’s PPA with Pacific Gas and Electric Company on June 3.