Oct. 31, 2013 - First Solar announced today that it has agreed to sell the 250-megawatt (MW)AC Silver State South Solar Project to a subsidiary of NextEra Energy Resources.
The deal is expected to close early in 2014, subject to certain conditions precedent. Terms of the transaction were not disclosed.
Silver State South is located on approximately 3,000 acres of public land in Clark County, Nev. The project is adjacent to the 50MW Silver State North project.
First Solar will continue to develop and permit Silver State South, and provide Engineering, Procurement and Construction (EPC) services for the project. Construction is expected to begin once final regulatory and permitting approvals have been received, and be completed in late 2016. At peak activity, the project will create up to 300 full-time construction jobs.
Silver State South will utilize First Solar's photovoltaic thin film solar modules, installed on the company's single-axis tracker mounting system. All the power from Silver State South will be sold to Southern California Edison under a long-term power purchase agreement.
"First Solar is committed to bringing Silver State South to life as part of our growing Nevada solar power portfolio," said Tim Rebhorn, First Solar's Senior Vice President of Business Development for the Americas. "Together, NextEra and First Solar are playing a key role in creating more jobs in Nevada and delivering clean, affordable solar energy."
"The acquisition of Silver State South is another important milestone as we continue to build our solar business," said NextEra Energy Resources Senior Vice President of Development Mike O'Sullivan. "We look forward to working with the First Solar team to make this project a reality."