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Clean Power First Solar Buys NextLight

Published on July 16th, 2010 | by Zachary Shahan

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First Solar Buys NextLight for $297 Million

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July 16th, 2010 by Zachary Shahan
 
First Solar Buys NextLight

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Solar energy giant First Solar closed a major deal to acquire NextLight Renewable Power, LLC for $297 million this week.

This acquisition gives First Solar access to a 1,100MW solar project pipeline in the southwestern US and gives it control of other NextLight projects with already signed power purchase agreements totalling 570MW.

First Solar is becoming a giant in this field. It is the largest solar developer in the US and now has “power purchase agreements for 2.2GW of utility-scale solar projects in North America,” Business Green reports.

NextLight’s project developers and staff will now join the First Solar team and will start work later in the year on a 290MW Agua Caliente Solar Project in Yuma County, Arizona that NextLight planned.

First Solar has acquired several companies in the last few years and First Solar chief executive Rob Gillette says that they are looking to dominate the fast-expanding market for utility-scale solar projects in the US.

“Success in today’s competitive solar market requires a complete solution for our customers’ renewable energy needs,” Gillette says. “First Solar is uniquely positioned to deliver utility-scale solar power plants, including project development, module manufacturing, engineering, procurement and construction, project finance expertise and operations and maintenance.”

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Photo Credit: AMagill via flickr

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About the Author

spends most of his time here on CleanTechnica as the director/chief editor. Otherwise, he's probably enthusiastically fulfilling his duties as the director/editor of Solar Love, EV Obsession, Planetsave, or Bikocity. Zach is recognized globally as a solar energy, electric car, and wind energy expert. If you would like him to speak at a related conference or event, connect with him via social media. You can connect with Zach on any popular social networking site you like. Links to all of his main social media profiles are on ZacharyShahan.com.



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