PPAs signed for solar power projects in California

First Solar Inc. (Nasdaq: FSLR) has signed power purchase agreements with Pacific Gas and Electric Co. (PG&E, NYSE: PCG) for 72 MW of solar electricity to be generated at two photovoltaic power plants that First Solar is developing in central California.

The 32 MW Lost Hills project in Kern County and the 40 MW Cuyama project in Santa Barbara County are expected to create up to 600 jobs at peak construction. First Solar said project construction could start in 2013.

The power purchase agreements, each with a delivery term beginning in 2019, are subject to approval by the California Public Utilities Commission, whose decision is expected in the first half of 2013.

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