Purchase of 22 contracted and operational projects across three US states is the latest in a series of PV acquisitions by the London-listed investment firm.
Firm expects storage and PV installs to grow ‘at least 50%’ this year after 2019 results show last year was stellar for storage but less so for PV, despite the latter’s stronger H2 2019.
New projections mark major pivot for the agency, which for years had predicted that natural gas would remain the US' dominant source of electricity over the decades to come.
Retail giant and Silicon Valley firm say they have ‘resolved the issues’ raised by the former, which had linked rooftop blazes to Tesla’s alleged 'negligence’ with PV installs.
Japanese firm says divestment was 'strategic asset recycling' and that 'strengthening of the financial base continues to be one of [Mitsui & Co’s] key initiatives'.
The projects, which will be operated by First Solar's operations and maintenance arm once commissioned next year, are contracted to provide power to Facebook's data centres via a PPA with PacifiCorp.
The deal, which Dominion says is largest ever brokered by a US state government, comprises four different solar projects set to come online before 2023, as well as one wind project.
The New York City firm, which specialises in funding solar and anaerobic digesters in the US, said it will use the funding from Newlight Partners, a Soros Fund spin-off, to support projects' pre-construction phase.
