Boston, MA 10/21/2013 (wallstreetpr) – First Solar, Inc. (NASDAQ:FSLR) has recently announced that it has entered into an agreement that will require the company to build a 250 MW (megawatt) AC solar power plant for a subsidiary of NextEra Energy Sources, LLC in the Riverside County in California. This construction is committed to be done in a continuation of the relationship between these two companies. The financial terms of the deal is yet to be disclosed.
The McCoy Solar Energy Project will be located on around 2,300 acres of public/federal land, mostly, which is provided by the BLM (Bureau of Land Management), and that is approximately 13 miles northwest of Blythe in California. The company said in a statement that this project is near the 550 MW (megawatt) Desert Sunlight solar farm, which is another project being constructed by Tempe, which is an Arizona-based First Solar. That project is owned by Sumitomo Corp. of America, GE Energy Financial Services, and NextEra.
The company, First Solar, will be responsible for the construction and design of the facility, as it has done in the past for NextEra. According to the agreement, the company will provide procurement, engineering, and construction services by using its CdTe (cadmium telluride) photovoltaic thin-film modules.
The officials of the company said that the construction will begin in late 2014, with completion in late 2016, a potential two year build. At the peak of operations, the project will provide up to 400 construction jobs. The director for the business development of First Solar for the United States, Roger Bredder, said that the company is pleased to have the opportunity of working with NextEra again.
Originally, First Solar sold Desert Sunlight in the year 2010. For the project, the company then received a $1.46 billion loan guarantee. Later in that year, First Solar sold 4 solar plants to NextEra in Canada. The McCoy Solar Energy Project construction award affirms the position of First Solar as one of the leading developers of the world.
