The NextLight acquisition includes:
- 570 MW (AC) under signed power purchase agreements with western utilities, increasing First Solar's contracted photovoltaic (PV) solar project pipeline to 2.2 GW;
- 530MW (AC) of additional solar PV projects in various stages of development.
NextLight's projects solar PV projects are in sizes of 30-290 MW.
"NextLight has assembled a project pipeline that very much complements First Solar's project portfolio. We are looking forward to having the highly experienced NextLight team join First Solar," says Rob Gillette, First Solar CEO.
First Solar’s utility-scale solar PV expansion
The transaction represents another step in First Solar's expansion in the US utility-scale solar power market, which began in 2007 with the acquisition of Turner Renewable Energy and continued with the acquisitions of solar project pipelines from OptiSolar in 2009 and Edison Mission Group in 2010.
First Solar will acquire NextLight in an all-cash transaction that is expected to be completed in the third quarter of 2010.