First Solar Inc. has sold Cimarron I, a 30 MW photovoltaic solar power project, to Southern Co. and Turner Renewable Energy. Financial terms of the transaction were not disclosed.
The Cimarron I project is adjacent to the Vermejo Park Ranch in northern New Mexico. First Solar developed the project and is providing engineering, procurement and construction services. The company will also provide operation and maintenance services under a 25-year contract.
Construction of the solar project will begin this month, with completion and commercial operation expected by the end of the year. The project will employ approximately 500,000 photovoltaic modules manufactured by First Solar.
Electricity generated by the plant will serve a 25-year power purchase agreement with the Tri-State Generation and Transmission Association.
SOURCE: First Solar