Photo Courtesy of First Solar
First Solar, Inc. (Nasdaq: FSLR) announced it has sold the 139-megawattAC (MW) Campo Verde Solar Project to Southern Company subsidiary Southern Power and Turner Renewable Energy. Under the terms of the agreement, First Solar will complete construction of the project and will operate and maintain the power plant for 10 years. Construction of the Campo Verde project began in December 2012 and commercial operation is expected in fall 2013.
Campo Verde is the second project First Solar has designed and constructed for Southern Power and Turner Renewable Energy. In 2010, First Solar sold the 30 MWAC Cimarron I Solar Project, adjacent to Ted Turner’s Vermejo Park Ranch in northern New Mexico, to the partnership.
“We are pleased that Southern Company and Turner Renewable Energy have once again chosen a First Solar project to add to their renewable energy portfolio,” said James F. Cook, First Solar director of Project Development.
The Campo Verde project is another state-of-the-art design which seamlessly integrates First Solar’s advanced thin-film solar modules with our leading power plant controls and grid-integration technology. By leading the project from development through engineering, construction and operations, we are able to offer the highest performance and greatest reliability.
“Southern Power and Turner Renewable Energy are continuing our successful partnership with the acquisition of First Solar’s 139-MW Campo Verde Solar Project,” said Oscar Harper, president and CEO of Southern Power.
First Solar was the developer of our partnership’s first venture — the Cimarron Solar Facility in New Mexico — and we’re pleased to expand our joint efforts through our largest solar acquisition to date.
Terms of the transaction were not disclosed. First Solar does not expect to recognize revenue prior to commercial operation of the plant.