First Solar Acquiring NextLight Renewable Power LLC

By Adam Lyons in : News // Jun 5 2010

Tempe-based First Solar Inc. plans to break ground this summer near Yuma on its first big Arizona power plant following California regulators’ approval this week to sell the power to Pacific Gas and Electric Co.

With the NextLight acquisition, First Solar will have power plants with a potential output of 2.2 gigawatts in its development pipeline.

The Agua Caliente Solar project was put together by NextLight Renewable Power LLC of San Francisco, which First Solar said in April it would buy for $285 million.

But First Solar didn’t want NextLight unless the California Public Utilities Commission approved selling power from the Agua Caliente plant to PG&E, which serves much of the state north of Los Angeles.

That approval came Thursday, clearing the way for the acquisition and Agua Caliente’s construction.

The plant is planned for a site 65 miles east of Yuma near Dateland and Hyder on about 2,400 acres currently being farmed.

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