First Solar acquires 50 MW PV project from Element Power

The photovoltaic project, located on land leased from the New Mexico State Land Office, is scheduled for completion in 2014. First Solar will construct the plant using its thin film modules. Up to 400 jobs are expected to be created during the construction period.

The generated energy is expected to be sold to El Paso Electric. The PPA is, however, still subject to regulatory approvals, which are expected to be concluded in the first half of this year.