Southern Power, a subsidiary of Southern Company, has acquired a controlling stake in a 300MW solar power project in California from First Solar for an undisclosed amount.
First Solar, which is building the plant will retain the remaining stake in the Desert Stateline project and will operate and maintain the project.
Construction on the project commenced in 2014 and will be completed in phases.
The project will feature close to 3.2 million of First Solar’s thin-film photovoltaic (PV) solar modules mounted on fixed-tilt tables.
When fully operational in the third quarter of 2016, the Desert Stateline Facility will generate clean electricity that will be enough to meet the energy needs of nearly 100,000 average homes.
Southern California Edison Company will purchase the electricity and associated renewable energy credits generated by the facility, under a 20-year power purchase agreement.
First Solar CEO Jim Hughes said: "Desert Stateline is an exciting addition to the series of projects on which we’ve partnered with Southern Power. Our strategic relationship capitalizes on each company’s core competencies, as well as the synergies obtainable though informed, enlightened collaboration.
"We are actively discussing ways to continue and broaden this relationship. This facility and other similar facilities allow leading energy companies to place First Solar’s advanced thin film PV technology at the heart of utility scale generation facilities, enabling power providers to include competitive, reliable renewable energy in their portfolios."
This project represents fourth shared acquisition of Southern Power and First Solar.
Southern Power’s renewable portfolio includes 20 solar, wind and biomass projects with total generating capacity of over 1,450MW across the US.
Since 2012, Southern Company has added or announced over 3,300MW of renewable projects.
Image: The Desert Stateline Facility will comprise close to 3.2 million of First Solar’s thin-film photovoltaic (PV) solar modules. Photo: courtesy of Southern Company.