Southern Power, First Solar co-own California solar PV project

Southern Power, First Solar co-own California solar PV project

Southern Co. (NYSE: SO) unit, Southern Power, acquired a controlling stake in a 300-MW solar power project in California.
 
First Solar (Nasdaq: FSLR) will maintain the remaining interest in the Desert Stateline Facility. The deal represents the fourth shared acquisition between Southern Power and First Solar. The project will be located on 1,685 acres of federally managed public land in San Bernadino County and is expected to use 3.2 million of First Solar’s thin-film photovoltaic (PV) solar modules mounted on fixed-tilt tables.
 
First Solar is building and will operate and maintain the Desert Stateline project. Construction started in October 2014 and will be completed in phases with commercial operation scheduled for third quarter 2016. The output and associated renewable energy credits will be sold under a 20-year power purchase agreement with Southern California Edison.



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