First Solar to sell 50 MW Ontario power plants

Share

Shortly after announcing an R&D, component and reseller partnership on August 6, First Solar and GE have completed another project transaction. The latest move will see GE purchase a collection of completed photovoltaic power plants off First Solar in Ontario. First Solar will remain O&M provider for the installations.

The 50 MW of capacity comes in the form of the 10 MW Amherstburg, 20 MW Belmont and 20 MW Walpole installations. All three power plants are fully operational and will sell power to the Ontario Power Authority, under 20 year PPAs.

GE Energy Financial Services is the lead partner in the ABW Partnership, which comprises of GE and the Alterra Power Corporation. Great-West Life Assurance Company, Sun Life Assurance Company of Canada and Caisse de dépôt et placement du Québec have provided the debt finance.

"Our Ontario investments deepen our longstanding relationship with First Solar and illustrate our interest in acquiring solar power projects at various stages of development and construction," said Mark Tonner, managing director and Canada business leader at GE Energy Financial Services, in a statement today. The statement notes that GE Energy Financial Services has a one gigawatt solar portfolio, worth $1.5 billion. These include installations developed by First Solar in North America and Australia.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Popular content

Trina Solar launches 760 W TOPCon module with 24.5% efficiency

06 December 2024 The Chinese manufacturer said its new i-TOPCon Ultra panel is part of the Vertex N family and is intended for applications in utility-scale projects...

Share

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.