First Solar acquires 60 MW solar power project

First Solar Inc. (Nasdaq: FSLR) has acquired the 60 MW North Star solar power project being developed in Fresno County, Calif., the company announced today. The project was developed by NorthLight Power LLC, a joint venture of Renewable Energy Corporation ASA and Summit Power Group LLC.

The photovoltaic solar power plant is expected to start construction next year and be completed in 2015. It has a 20-year power purchase agreement with Pacific Gas and Electric Co. (NYSE: PCG), according to First Solar.

Terms of the transaction were not disclosed by the companies.

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