12.20.19
First Solar, Inc. announced that a partnership composed of EDP Renewables and ConnectGen completed the acquisition of three projects with a total nameplate design of 278 megawatts (MW)AC in the US.
First Solar previously disclosed that the sale of these projects was subject to certain conditions precedent for closing that have since been satisfied.
The projects include the 154MWAC Sun Streams 1 project in Maricopa County, AZ, the 20MWAC Windhub A project in Kern County, CA, and the 103MWAC Sunshine Valley project in Nye County, Nevada.
All three projects are scheduled to achieve substantial completion by the end of the fourth quarter of 2019.
“These projects reflect EDP Renewables’ focus on value creation, innovation, and sustainability. Combining responsible development with attractive economics backed by long-term Power Purchase Agreements, they are powered by one of the most innovative and eco-efficient solar technologies available today,” said Miguel Prado, CEO EDP Renewables North America.
EDP Renewables is a global renewable energy company that operates in markets around the globe. The US is the company’s biggest market in terms of installed capacity and production.
EDP Renewables North America commissioned its first two solar parks in California in January 2015, subsequently adding three solar parks in South Carolina to its operational portfolio.
“ConnectGen and First Solar strive to enable a sustainable energy future, and this deal furthers our goal to provide long-term, cost-effective, renewable energy solutions in the US,” said Caton Fenz, CEO, ConnectGen.
Headquartered in Houston, ConnectGen develops renewable energy and energy storage projects across North America. The company is backed by Quantum Energy Partners, a provider of private equity capital to the global energy industry.
“We’ve proven, once again, that investors are focused on the winning formula: responsible development, attractive project economics, and long-term Power Purchase Agreements, underpinned by high-performance PV modules and a partner that stands behind its commitments,” said Georges Antoun, chief commercial officer, First Solar.
First Solar previously disclosed that the sale of these projects was subject to certain conditions precedent for closing that have since been satisfied.
The projects include the 154MWAC Sun Streams 1 project in Maricopa County, AZ, the 20MWAC Windhub A project in Kern County, CA, and the 103MWAC Sunshine Valley project in Nye County, Nevada.
All three projects are scheduled to achieve substantial completion by the end of the fourth quarter of 2019.
“These projects reflect EDP Renewables’ focus on value creation, innovation, and sustainability. Combining responsible development with attractive economics backed by long-term Power Purchase Agreements, they are powered by one of the most innovative and eco-efficient solar technologies available today,” said Miguel Prado, CEO EDP Renewables North America.
EDP Renewables is a global renewable energy company that operates in markets around the globe. The US is the company’s biggest market in terms of installed capacity and production.
EDP Renewables North America commissioned its first two solar parks in California in January 2015, subsequently adding three solar parks in South Carolina to its operational portfolio.
“ConnectGen and First Solar strive to enable a sustainable energy future, and this deal furthers our goal to provide long-term, cost-effective, renewable energy solutions in the US,” said Caton Fenz, CEO, ConnectGen.
Headquartered in Houston, ConnectGen develops renewable energy and energy storage projects across North America. The company is backed by Quantum Energy Partners, a provider of private equity capital to the global energy industry.
“We’ve proven, once again, that investors are focused on the winning formula: responsible development, attractive project economics, and long-term Power Purchase Agreements, underpinned by high-performance PV modules and a partner that stands behind its commitments,” said Georges Antoun, chief commercial officer, First Solar.