30 March 2017

First Solar sells Moapa Solar Project to Capital Dynamics

First Solar Inc of Tempe, AZ, USA – which makes thin-film photovoltaic modules based on cadmium telluride (CdTe) as well as providing engineering, procurement & construction (EPC) services – has completed the sale of the cash equity interests in the 250MWAC Moapa Southern Paiute Solar Project in Nevada to global private asset manager Capital Dynamics.

Minority tax equity interests in the project are shared by GE unit GE Energy Financial Services and an affiliate of the Goldman Sachs Group.

Located on the Moapa River Indian Reservation in Clark County about 30 miles north of Las Vegas and capable of generating enough energy to power about 111,000 homes, the facility is the first utility-scale solar power plant to be built on tribal land. It began operating in December, and has a 25-year power purchase agreement (PPA) with the Los Angeles Department of Water and Power (LADWP).

“The Moapa project is an important step in the Clean Energy and Infrastructure strategy of Capital Dynamics,” says John Breckenridge, Capital Dynamics’ head of Clean Energy and Infrastructure (CEI). “We continue to be long-term owners of high-quality power generation assets in North America and Europe,” he adds. “With Moapa, we expand our strong relationship with First Solar.”

First Solar Energy Services will operate and maintain the power plant for Capital Dynamics.

Featuring over 3.2 million CdTe solar panels covering more than 25 million square feet (enough to cover more than 450 NFL football fields), the Moapa Southern Paiute Solar Project will avoid about 341,000 metric tons per year of carbon dioxide emissions (equivalent to taking nearly 73,000 cars off the road).

See related items:

First Solar begins operation of 250MW Moapa Southern Paiute Solar Project

Moapa Paiute Tribe, LADWP and First Solar break ground on 250MW project

Tags: First Solar Thin-film photovoltaic CdTe

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