First Solar, Inc. announced it has completed the sale of the 280MWAC California Flats Solar Project in Monterey County, Calif., to global private asset manager Capital Dynamics.
The 130MW first phase is expected to be commissioned in the fourth quarter of 2017, and is fully contracted under a long-term Power Purchase Agreement (PPA). The 150MW second phase, which is currently under construction, is expected to be commissioned by the end of 2018, and is fully contracted under a long-term PPA.
"We are very excited to have completed another important transaction with First Solar. Our Clean Energy Infrastructure (CEI) team now owns three of the 10 largest solar projects in North America and has over 3 GW of projects operating or under construction," said John Breckenridge, Head of Capital Dynamics Clean Energy Infrastructure. "As an investor focused on clean energy projects, we expect to continue to actively grow that portfolio in the immediate future."
"We are proud to continue our support of Capital Dynamics renewable energy strategy," said Georges Antoun, First Solar's Chief Commercial Officer. "The California Flats project includes an exciting mix of utility and corporate renewable energy procurement. First Solar’s technology ensures both end user groups will receive reliable, clean renewable energy."