First Solar Acquires 150 MWac Solar Gen 2 Photovoltaic Power Project

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First Solar 2

First Solar has acquired the 150-megawattAC  Solar Gen 2 power project from an affiliate of The Goldman Sachs Group, Inc. Energy Power Partners and a third equity partner for the project. Construction of the facility, which is located in Imperial County, Calif., near El Centro, is expected to start this year and be completed in 2014.

The photovoltaic (PV) solar plant will generate enough electricity to power more than 60,000 average California homes, displacing more than 115,000 metric tons of CO2 per year (the equivalent of taking 22,000 cars off the road) and saving 93,000 metric tons of water per year.

The electrical output of the project will be purchased by San Diego Gas & Electric Company (SDG&E) under a 25-year power purchase agreement. Solar Gen 2 is expected to provide on average more than 800 construction jobs in Imperial County, an area currently suffering from high unemployment.

“We are very pleased to help SDG&E meet its clean energy goals and provide clean, reliable, renewable power to their customers,” said Dana Diller, First Solar Vice President of U.S. Business Development. “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.”

“We are delighted to transition Solar Gen 2 to First Solar, one of the world’s leading solar companies. First Solar shares our vision of providing clean energy for California and green jobs for Imperial Valley, one of the most economically challenged areas in the country,” said Steve Zaminski, CEO of Solar Gen 2 and owner of Energy Power Partners. “We are grateful to SDG&E, the Imperial Irrigation District, the County of Imperial and the California Public Utilities Commission for their leadership and support in contributing to the successful outcome of this development effort.”

Financial terms were not disclosed. The acquisition includes 40 MWDC of solar modules that the project previously purchased from another supplier, which will be integrated into the installation. First Solar will supply the balance of modules for the power plant, along with its project development, engineering, procurement and construction (EPC), and grid integration services.

6 COMMENTS

  1. A pyramid with too many partners and middlemen? Whose land and how much? With all these big boy partners the margin is coming out of somewhere. No mention of ZGlobal in the deal…..the initial Solar Gen 2 “developer” and long time IID consultant. Multi level deals usually wind up costing whoever is left holding the bag. Anybody want to venture to guess who that might be? This one sounds a little like the Salton Sea smelled a few months back and has mysteriously suddenly risen again after almost 18 months under the radar. Depending on whose land this project is on the audit department ought to have a closer look just to insure it’s a good deal for the ratepayers/owners.

    • The Renewable Energy boom is here. The RE rush is on! Big-time!! Home (De La Mancha) Girl is dead on again. someone is already profiting immensely by the boom, however it is not the ratepayers.
      As promised there is also a big employment boom; only, contrary to the Board of Supervisor’s claims,few locals are actually employed. Those getting the jobs speak Spanish (albeit with a lisp) not that there is anything wrong with that. Unlike other Spanish speakers, these ones actually come mainly from Spain.

      Other migrant workers are from Arizona; I’ve seen their license plates and bright shirts stating “I am From Arizona.”

      I am not against renewable energy; however in the end, we will benefit not at all and our landscape will be cluttered with obsolete solar panels,windmills, and deep concrete piers and footings.

      Face it folks; we are the cesspool of California and our BOS are fully complicit. But at least their pensions are safe. HG,keep on battling windmills. Perhaps Mr. Insider can be your Sancho?

      • The equation is simple-

        long term control area revenue + local short and long term jobs + sensible land use and deals – graft = regional public good and ratepater benefit.

        Forget the token political smoke screens- keep token free public giveaways of solar to the poor Joe Kennedy and keep public ceremonies presenting token incentive checks to the county- our poorest of the poor regions deserves our rightful and honest benefit of the resources being taken out of our region. I’m not certain but on the surface this deal kinda smells once again like dead fish and we ought to have a closer look.

        • Alaska has oil and every resident that meets certain standards gets a cut.

          We have renewable resources that power companies are mandated to employ in the electrical grid and we get gooose eggs. Not even jobs.

          All because we have five (5) (count them;
          five (5)) supes that cannot even tie their shoes.

          We are the poorest of the poor counties and the saddest of the sad because the intelligence quotient of our 5 supervisors when totaled doesn’t even equal Sarah Palin.

          Crap, the only thing missing is Imperial County becoming a punch line on Saturday Night Live.

          I am not against power companies getting a return on their investment; but in a few decades they will be gone and we will have our landscape littered with their flotsom and jetsom.

          It’s a good thing Jesus Christ did not decide to postpone his arrival a couple of centuries and choose our locale. He would have been hard put to encounter at least three (3) wise men.

          He would have had no trouble getting crucified for speaking the obvious, though. The IV Press would be the first to shout out “Crucify the Blasphemer!”

        • look around, first solar is THE major player in the south and now north ends. does make ya wonder.

          • If this one is on IID land the deal ought to be scrutinized more closely through an audit. If we are giving away land in exchange for ??????? the details of the transaction should be transparent to the ratepaying public and based upon the article “financial terms were not disclosed”. With lots of big wheel partners, financial terms not disclosed and the project dormant under the radar for over a year it just makes a girl wonder.

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