First Solar Sells 30MW Project
First Solar has stated it has sold a 30 megawatt (AC) photovoltaic solar power project to Southern Company and Turner Renewable Energy. Financial terms of the transaction were not disclosed. The Cimarron I Solar Project is adjacent to the Vermejo Park Ranch in northern New Mexico. First Solar developed the project and is providing engineering, procurement and construction (EPC) services. First Solar will also provide operation and maintenance services under a 25-year contract. The facility will supply power to approximately 9,000 homes, or 18,000 residents, and displace over 45,000 tons of CO2 per year.
"The Cimarron I project is yet another example of First Solar's capability to realize utility-scale solar projects," said Rob Gillette, First Solar chief executive officer. "Combining the required technology, manufacturing, project development and EPC expertise enables First Solar to be a leader in sustainable energy development."
Construction of the solar project will begin this month, with completion and commercial operation expected by year end 2010. It will employ approximately 500,000 photovoltaic modules manufactured by First Solar using its advanced thin film technology. The project will create over 200 jobs at construction peak.
Electricity generated by the plant will serve a 25-year power purchase agreement with the Tri-State Generation and Transmission Association, a not-for-profit wholesale power supplier to 44 electric cooperatives serving 1.4 million customers across Colorado, Nebraska, New Mexico and Wyoming.
