EDPR, ConnectGen Complete Acquisition of 3 Projects From First Solar

EDPR, ConnectGen Complete Acquisition of 3 Projects From First Solar

First Solar has announced that EDP Renewables and ConnectGen have completed the acquisition of 3 projects with a total nameplate design of 278 MW in the US.

EDP ConnectGen First Solar

US-headquartered First Solar has announced that a partnership composed of EDP Renewables and ConnectGen has completed the acquisition of three projects with a total nameplate design of 278 megawatts (MW) in the United States. First Solar previously disclosed that the sale of these projects were subject to certain conditions precedent for closing that have since been satisfied

The projects include the 154 MW Sun Streams 1 project in Maricopa County, Arizona, the 20 MW Windhub A project in Kern County, California, and the 103 MW  Sunshine Valley project in Nye County, Nevada. All three projects are scheduled to achieve substantial completion by the end of the fourth quarter of 2019. 

“These projects reflect EDP Renewables’ focus on value creation, innovation, and sustainability. Combining responsible development with attractive economics backed by long-term Power Purchase Agreements, they are powered by one of the most innovative and eco-efficient solar technologies available today,” said Miguel Prado, chief executive officer, EDP Renewables North America. “We look forward to adding these projects to our growing portfolio in the United States.”

All three projects are powered by First Solar’s thin film module technology, developed and innovated in the United States. Once commissioned, the projects will be operated by First Solar Energy Services, which, with over 10 gigawatts (GW) under management, is one of the solar industry’s most experienced Operations and Maintenance (O&M) service provider for large-scale solar power plants.

“We’ve proven, once again, that investors are focused on the winning formula: responsible development, attractive project economics, and long-term Power Purchase Agreements (PPA), underpinned by high-performance PV modules and a partner that stands behind its commitments,” said Georges Antoun, Chief Commercial Officer, First Solar.

Caton Fenz, chief executive officer, ConnectGen said that ConnectGen and First Solar strive to enable a sustainable energy future, and this deal furthers their goal to provide long-term, cost-effective, renewable energy solutions in the United States.

“We look forward to working alongside EDP Renewables and with all project stakeholders to responsibly bring these important projects to fruition.”

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Ayush Verma

Ayush is a staff writer at saurenergy.com and writes on renewable energy with a special focus on solar and wind. Prior to this, as an engineering graduate trying to find his niche in the energy journalism segment, he worked as a correspondent for iamrenew.com.