First Solar acquires US and Mexico 1.5GW assets
Date
August 12, 2013
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First Solar, Inc. announced on 6 August 2013 it has acquired a pipeline of U.S. and Mexico solar development assets from Element Power. The 1.5 GW pipeline includes geographically diverse projects in various stages of development. Terms of the deal were not diclosed.Included in the pipeline are projects in California, Arizona, Texas, Georgia, North Carolina, Colorado, Louisiana and Illinois.
The projects are competitively positioned in their respective markets and have secured site options and interconnect queue positions, and are at various stages of environmental screening and permitting.
The portfolio also includes several Mexican projects located in the State of Sonora that are in a position to take advantage of the emerging utility scale PV market in Mexico.
Key staff from Element will support a seamless transition of project development activities to First Solar's project development team.
Element Power is a developer of utility-scale solar and wind power projects. Element Power is owned by Hudson Clean Energy Partners.First Solar is a leading global provider of comprehensive photovoltaic (PV) solar systems which use its advanced module and system technology.Source: First Solar
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