US-based solar panels manufacturer First Solar has acquired 150MW Solar Gen 2 power project from an affiliate of The Goldman Sachs Group, Energy Power Partners and a third equity partner for the project.
In addition, the deal also includes 40MW of solar modules, which will be used in the development of the project.
The company is expected to begin the construction of the project near El Centro in Imperial County, California, during the current year 2013.
The PV project is expected to cater to the power requirements of more than 60,000 average California homes, besides reducing 115,000 metric tons of carbon dioxide annually.
The power produced from the project will be procured by San Diego Gas & Electric Company (SDG&E) under a 25-year power purchase agreement with Solar Gen 2.
Commenting on the deal, First Solar US business development vice president Dana Diller stated that the company is looking forward to support SDG&E in meeting its clean energy goals and provide clean, renewable power to their customers.
“We are also proud to once again bring the economic benefits of utility-scale solar development to Imperial County, where both county officials and the Imperial Irrigation District, with which this plant will interconnect, have been extremely supportive,” added Diller.