First Solar buys 15 MW solar project; sells 20 MWs01. February 2011 | Industry & Suppliers, Applications & Installations, Top News | By: Becky Stuart
First Solar Inc. has completed the acquisition of Helios Energy's Amherstburg II Solar Project. First Solar will now sell it, along with a second project to Enbridge Inc., for around CAD$90 million.
Consisting of two separate facilities, the Amherstburg II Solar Project, located in the town of Amherstburg, Ontario, will total 15 megawatts (MW) when completed. Building is scheduled to begin in March, and is expected to be finished in the third quarter of the year. Between 300 and 400 construction jobs will reportedly be created.
It is hoped the project will generate tax revenues for various levels of government, and create economic benefits for local businesses. It will sell its power to the Ontario Power Authority pursuant to 20-year Power Purchase Agreements under the terms of the Renewable Energy Standard Offer Program.
While First Solar will continue developing the facilities, and will provide engineering, procurement and construction services, as well as operations and maintenance services under long-term contracts, Enbridge Inc. will own them.
"Amherstburg II will continue to expand Ontario's supply of clean, affordable, sustainable solar energy," commented Peter Carrie, First Solar vice president of business development for Canada. "We are pleased to have worked with Helios Energy and look forward to bringing the project to completion this summer."
In another deal, Enbridge has acquired First Solar's five MW Tilbury Solar Project, located in Tilbury, Ontario. Spread across 87 acres, it is comprised of around 89,000 solar panels: construction was completed last December. In total, Enbridge's investment in both First Solar projects is approximately CAD$90 million.
"Following closely on the heels of the successful completion of our 80 MW Sarnia Solar Project, we're pleased to add another 20 MW of solar generating capacity to our renewable energy portfolio," said Al Monaco, president, Gas Pipelines, Green Energy & International, Enbridge Inc.
Choose between a digital and print subscription from pv magazine publisher Solarpraxis AG’s online shop!
- 1693 views
- 1630 views
- 1354 views
- 1315 views
- 1277 views
Opinion & analysis
Why do so many believe MENA is the next big solar market?, asks Yassir Gamil, managing director of Solarpraxis' new MENA office
Want to publish your press releases for free? Simply log in or register, enter the information you want to appear and we'll publish it for you!