First Solar Inc., Tempe, Ariz., has acquired the 150MW Solar Gen 2 power project from an affiliate of The Goldman Sachs Group Inc., Energy Power Partners and a third equity partner for the project. According to a press release announceing the purchase, construction of the facility, located in Imperial County, Calif., near El Centro, is expected to start this year and be completed in 2014.
The photovoltaic solar plant will generate enough electricity to power more than 60,000 average California homes. The electrical output of the project will be purchased by San Diego Gas & Electric Company (SDG&E) under a 25-year power purchase agreement. Details