First Solar sells Campo Verde project

Near the proposed Campo Verde gen-tie line / BLM Photo

By Patrick O’Grady | Phoenix Business Journal

First Solar Inc. has sold another of its large solar projects, this time with the sale of the 139-megawatt Campo Verde Solar Project in California.

Southern Co., a subsidiary of Southern Power, and Turner Renewable Energy bought the project for an undisclosed price.

The sale is the latest in a business plan for Tempe-based First Solar (Nasdaq: FSLR) that involves the company designing and building the plants, but selling them to other entities and carrying on with the maintenance and operations.

First Solar has a contract to maintain and run Campo Verde near El Centro for 10 years. The project is expected to be fully operational this fall. Power from the plant will be sold to San Diego Gas & Electric.

Campo Verde is the second plant First Solar has sold to the Southern Co.-Turner partnership. The first was the 30-megawatt Cimarron I in New Mexico.

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April 23, 2013

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