EDP and ConnectGen complete acquisition of First Solar projects in Arizona, California and Nevada

Cadmium telluride (CdTe) thin-film photovoltaic module maker First Solar Inc of Tempe, AZ, USA says that a partnership composed of EDP Renewables (whose principal shareholder is global energy firm Energias de Portugal S.A.) and North American renewable energy and energy storage project developer ConnectGen of Houston, TX, USA (founded in 2018 and backed by private equity capital provider Quantum Energy Partners) has completed the acquisition of three projects in the USA with a total nameplate design of 278MWAC. First Solar previously disclosed that the sale of these projects was subject to certain conditions that have since been satisfied.

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

“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,” comments Miguel Prado, CEO of EDP Renewables North America.

The USA is EDP Renewables’ biggest market in terms of installed capacity and production. EDP Renewables North America commissioned its first two solar parks in California in January 2015, subsequently adding three solar parks in South Carolina to its operational portfolio.

“This deal furthers our goal to provide long-term, cost-effective, renewable energy solutions in the United States,” says ConnectGen’s CEO Caton Fenz.

“We’ve proven, once again, that investors are focused on the winning formula: responsible development, attractive project economics, and long-term power purchase agreements, underpinned by high-performance PV modules and a partner that stands behind its commitments,” says First Solar’s chief commercial officer Georges Antoun.

Once commissioned, the projects will be operated by First Solar Energy Services which, with over 10GW under management, is the solar industry’s most experienced operations and maintenance (O&M) service provider for large-scale solar power plants, it is claimed.

Tags: First Solar Thin-film photovoltaic CdTe

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