Financial terms of the sale have not been disclosed. The solar plant is located about 30miles north of Las Vegas, on the Moapa River Indian Reservation land.
It has a long-term power purchase agreement (PPA) with the Los Angeles Department of Water and Power (LADWP) to add clean energy to Las Vegas’ grid.
Moapa solar plant can produce enough electricity to power as many as 111,000 US homes and it is estimated to help in avoiding about 341,000 metric tons of carbon emissions annually.
After the sale, First Solar will continue to provide operations and maintenance services for the solar plant.
First Solar chief commercial officer Georges Antoun said "This has been an exciting project to develop and build.
"Our technology is driving down the cost of solar electricity and enabling power providers to include competitive, reliable renewable energy in their portfolios. We are proud to transfer ownership of this power generation asset to Capital Dynamics."
Capital Dynamics Clean Energy and Infrastructure head John Breckenridge said "The Moapa project is an important step in the Clean Energy and Infrastructure strategy of Capital Dynamics.
"We continue to be long-term owners of high quality power generation assets in North America and Europe. We are particularly pleased that with Moapa, we expand our strong relationship with First Solar."
Image: First Solar sells 250MW solar plant in Nevada. Photo: Courtesy of franky242/FreeDigitalPhotos.net.
