As per the agreed terms, First Solar will complete the construction of the project and will operate and maintain the power plant for 10 years.
Construction of the Campo Verde project commenced in December 2012 and commercial operation will begin in fall 2013.
The Campo Verde project, located on a 1,443-acre site in Imperial County, will generate clean electricity, enough to power nearly 48,000 homes, and reduce 80,000 metric tons of CO2 annually.
San Diego Gas & Electric Company will purchase the electricity generated by the solar project, under a 20-year power purchase agreement.
First Solar Project Development director James F. Cook said that the Campo Verde project integrates company’s advanced thin-film solar modules and power plant controls and grid-integration technology.
Southern Power president and CEO Oscar Harper said, "Southern Power and Turner Renewable Energy are continuing our successful partnership with the acquisition of First Solar’s 139-MW Campo Verde Solar Project.
"First Solar was the developer of our partnership’s first venture — the Cimarron Solar Facility in New Mexico — and we’re pleased to expand our joint efforts through our largest solar acquisition to date."
According to an independent study, the Campo Verde Solar Facility is expected to contribute $17.5m in local tax revenue and employ around 250 workers during the construction phase.
