First Solar, Inc. (Nasdaq:FSLR) today announced it has sold a 30 megawatt (MW) photovoltaic solar power project to Southern Company (NYSE:SO) and Turner Renewable Energy.
Financial terms of the transaction were not disclosed.
The Cimarron I Solar Project is adjacent to the Vermejo Park Ranch in northern New Mexico. First Solar developed the project and is providing engineering, procurement and construction (EPC) services. First Solar will also provide operation and maintenance services under a 25-year contract.
Construction of the project will begin this month, with completion and commercial operation expected by the end of the year. It will employ approximately 500,000 photovoltaic modules manufactured by First Solar using its advanced thin film technology. The project will create over 200 solar jobs at construction peak.
The facility will supply power to approximately 9,000 homes, or 18,000 residents, and displace over 45,000 tons of CO2 per year.
Electricity generated by the plant will serve a 25-year power purchase agreement with the Tri-State Generation and Transmission Association, a not-for-profit wholesale power supplier to 44 electric cooperatives serving 1.4 million customers across Colorado, Nebraska, New Mexico and Wyoming.
In January, Ted Turner and Southern Company announced their intention to begin working together on US solar projects.
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