First Solar Reports Sale of Canadian Power Plants to GE-Alterra Partnership, Terms Not Disclosed
First Solar, Inc. (Nasdaq: FSLR) announced today that it has sold a collection of solar projects in Ontario, Canada, totaling 50 megawatts (MW) AC to an investment partnership led by GE (NYSE: GE) unit GE Energy Financial Services. Terms were not disclosed.
The 20MWAC Walpole Solar Power Plant is one of three solar projects in Ontario, Canada acquired by partners GE Energy Financial Services and Alterra Power Corporation from First Solar, Inc. Electricity from the 50MWAC collection of projects will be sold to Ontario Power Authority under its Renewable Energy Standard Offer Program (RESOP) with 20-year power purchase agreements. Photo courtesy of First Solar, Inc.
It is the first project transaction between First Solar and GE since their solar technology and commercial partnership was announced Aug. 6.
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