The projects include 150MW Copper Mountain Solar 2 plant near Las Vegas and the 150MW Mesquite Solar 1 power plant near Phoenix.
Sempra US Gas & Power renewables and corporate development vice president Kevin C. Sagara stated that the divestment in the two projects is a part of the company’s efforts to improve its financial returns and deconsolidate debt, besides raising funds for renewable growth projects.
"We are partnering in two strategic renewable assets, both with strong project fundamentals, and advancing our commitment to growth in the renewable energy marketplace," added Sagara.
Meanwhile, Mesquite Solar 1, located in Arlington, Arizona, is operational from 2011 with power from the facility procured by Pacific Gas & Electric under a 20-year contract.
The company is currently working on second phase of Copper Mountain Solar 2 that would increase its total capacity to 150MW. It is expected to be completed in 2015.
Power from the facility has been sold to Pacific Gas & Electric under a 25-year contract, the company added.
