EDF Renewable Energy Acquires 179 Megawatts Of Solar Projects From First Solar
EDF Renewable Energy has this week announced its acquisition of the 179-megawatt Switch Station 1 and 2 solar projects from First Solar in late-June, a move which brings the US company closer to 10 gigawatts worth of renewable energy projects in operation or development across North America.
EDF Renewable Energy is one of the leading independent power producers in the United States, and a subsidiary of EDF Energies Nouvelles, the renewable energy arm of the EDF group, the world’s leading electricity company. Announced last week, EDF Renewable Energy revealed that in late June it acquired both the Switch Station 1 and Switch Station 2 solar projects from First Solar, a global solar PV systems developer. Both Switch Station solar projects are currently under construction in Nevada, and upon completion in July and September respectively, will sell their generated electricity and environmental attributes under three separate Power Purchase Agreements to subsidiaries of NV Energy, Inc. — specifically, Nevada Power Company d/b/a NV Energy and Sierra Pacific Power Company d/b/a NV Energy.
The Clark County solar projects are expected to generate enough electricity to meet the equivalent of electricity enough for 46,000 Nevadan homes, equal to avoiding more than 265,000 metric tonnes of CO2 emissions annually.
“The acquisition of Switch Station 1 and Switch Station 2 marks EDF RE’s entry into Nevada, a state with world-class solar resources where we plan to build additional projects in the coming years,” said Ryan Pfaff, Executive Vice President of EDF Renewable Energy. “We are pleased to be working with First Solar, one of our key solar partners, to deliver affordable, reliable solar energy to NV Energy and its customers.”
“This is an exciting development in our long-standing relationship with EDF,” added Richard Romero, First Solar Vice President of Treasury and Project Finance. “There is great value in our shared ability to creatively structure a deal that meets both partners’ needs.”
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