In what amounts to being the largest commercial power agreement (to provide power to a commercial end-user) in the clean energy industry to date, First Solar just announced that it had come to agreement with Apple to supply $848 million worth of power from its California Flats Solar Project to the tech giant.
The deal will reportedly entail Apple receiving electricity from 130 megawatts (MW) of the California Flats Solar Project via a 25-year power purchase agreement.
“Apple is leading the way in addressing climate change by showing how large companies can serve their operations with 100% clean, renewable energy,” stated Joe Kishkill, Chief Commercial Officer for First Solar, in an email sent to CleanTechnica. “Apple’s commitment was instrumental in making this project possible and will significantly increase the supply of solar power in California. Over time, the renewable energy from California Flats will provide cost savings over alternative sources of energy as well as substantially lower environmental impact.”
As it stands, construction on the 2,900-acre California Flats Solar Project is set to begin in mid-2015, with completion expected before the end of 2016.
Altogether, the project will possess a capacity of 150 MW — 130 MW will go to Apple via the aforementioned deal, and the remaining 20 MW will be sold to Pacific Gas & Electric under a long-term power purchase agreement (PPA) between the two companies.
The project was just recently approved by the Monterey County Planning Commission in January — unanimously, it should be noted. It’s now headed to the Monterey County Board of Supervisors.
Worth noting is that this deal marks First Solar’s first wholesale commercial and industrial PPA.
Image Credit: First Solar
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