First Solar is currently constructing the photovoltaic power plant in San Luis Obispo County.
The Topaz project will incorporate First Solar’s advanced thin-film PV modules, and the construction on the power project is expected to be complete by early 2015.
Electricity generated from the Topaz project will displace around 377,000 metric tons of carbon dioxide per year.
First Solar will also operate and maintain the solar plant, which will have the capacity to generate enough renewable energy to power around 160,000 average California homes.
Electricity generated from the solar project will be sold to Pacific Gas and Electric Company, through a 25-year power purchase agreement, helping California meet its mandate to generate 33% of its power from renewable sources by 2020.
MidAmerican Renewables president Bill Fehrman said the closing of the Topaz project acquisition makes it the second solar project in its renewables business.
