Enbridge Inc. (TSX, NYSE: ENB) and First Solar Inc. (NASDAQ: FSLR) said on March 22 that Enbridge has acquired a 100 percent interest in the 50 MW Silver State North photovoltaic (PV) project that First Solar has developed and constructed in Clark County, Nev. Terms of the transaction were not disclosed.
Silver State North was constructed under a fixed-price engineering, procurement and construction (EPC) agreement with First Solar, and is expected to begin commercial operation by May 2012. First Solar will provide operations and maintenance services to Enbridge under a long-term contract. NV Energy will purchase the energy output under a 25-year power purchase agreement (PPA) approved in 2010 by the Public Utilities Commission of Nevada.
Silver State North is expected to be completed in the second quarter of 2012.
Read more new renewable projects news