Utility acquires 150 MW First Solar project

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Southeastern U.S. electric utility Southern Company has announced the acquisition of First Solar’s 150 MW Solar Gen 2 project.

The company yesterday (Thursday) announced the acquisition of the scheme by its subsidiary Southern Power.

Solar Gen 2, which was started last year and is expected to be completed by the end of the year, is a 1,451-acre project spread over three sites in Imperial County, California which will contain more than a million modules supplied by developer First Solar.

While not releasing details of the cost of the acquisition, Southern Company’s announcement stated Southern Power would acquire 100% of the project with First Solar subsequently taking a ‘minority interest’, subject to conditions.

Power generated by the project will be sold to the San Diego Gas & Electric utility – which serves customers in San Diego and the south of Orange County – under a 25-year PPA.

The acquisition will be the eighth solar asset in Southern Power’s portfolio and will take its PV generation capacity up to 441 MW.

California’s Renewables Portfolio Standard requires utilities to source 33% of their retail electric power from renewables by 2020.