NextEra Energy Resources Completes Acquisition of Ontario Solar Projects from First Solar
40 MW St. Clair Projects Begin Commercial Operation
JUNO BEACH, Fla. & TEMPE, Ariz.--(BUSINESS WIRE)--
NextEra Energy Resources, LLC, the competitive energy subsidiary of
NextEra Energy, Inc. (NYSE:NEE), and First Solar, Inc. (Nasdaq:FSLR)
today announced the completion of NextEra Energy Resources' acquisition
of two solar photovoltaic (PV) projects totaling 40 megawatts (AC) in
Ontario, Canada from First Solar.
The projects, located in St. Clair, were designed, developed and
constructed by First Solar, using its advanced thin film PV modules, and
began commercial operation in February, 2012. The two projects are owned
and operated by subsidiaries of NextEra Energy Resources' Canadian
subsidiary, NextEra Energy Canada, ULC, and provide enough power to
serve about 6,440 homes. Each year the solar generation is expected to
help avoid nearly 45,000 tons of carbon dioxide, which is the equivalent
of removing nearly 8,600 cars from the road every year for the life of
the projects. The power is being sold to the Ontario Power Authority via
long-term contracts under its Renewable Energy Standard Offer Program
"We are pleased to have completed the acquisition of our initial
Canadian solar projects. This acquisition is consistent with our
strategy to add fully contracted renewable assets to our portfolio,"
said NextEra Energy Resources' Senior Vice President of Development Mike
O'Sullivan. "Solar power will help promote a clean-energy economy in
Ontario and reduce its dependence on fossil fuels."
"The completion of the St. Clair projects helps Ontario meet its
economic and renewable energy goals," said Peter Carrie, First Solar
Vice President for Business Development, Canada. "The projects employed
800 construction workers, including local First Nations workers, and are
the first large-scale solar facilities permitted under the Province's
Renewable Energy Approval process."
NextEra Energy Resources
NextEra Energy Resources, LLC (together with its affiliated entities,
"NextEra Energy Resources"), is a clean energy leader and is one of the
largest competitive energy suppliers in North America, operating in 23
states and Canada. NextEra Energy Resources is the largest generator in
North America of renewable energy from the wind and sun, owning and
operating approximately 8,569 megawatts of wind and 158 megawatts of
solar power at the end of 2011. The business operates clean,
emissions-free nuclear power generation facilities in New Hampshire,
Iowa and Wisconsin as part of the NextEra Energy nuclear fleet, which is
the third largest in the United States. NextEra Energy Resources, LLC is
a subsidiary of Juno Beach, Fla.-based NextEra Energy, Inc. (NYSE: NEE).
For more information, visit www.NextEraEnergyResources.com.
About First Solar, Inc.
First Solar manufactures solar modules with an advanced semiconductor
technology and is a premier provider of comprehensive photovoltaic (PV)
system solutions. The company is delivering an economically viable
alternative to fossil-fueled generation today. From raw material
sourcing through end-of-life collection and recycling, First Solar is
focused on creating value-driven renewable energy solutions that protect
and enhance the environment. For more information about First Solar,
please visit www.firstsolar.com.
For First Solar Investors
This release contains forward-looking statements, which are made
pursuant to the safe harbor provisions of Section 21E of the Securities
Exchange Act of 1934. The forward-looking statements in this release do
not constitute guarantees of future performance. Those statements
involve a number of factors that could cause actual results to differ
materially, including risks associated with the company's business
involving the company's products, their development and distribution,
economic and competitive factors and the company's key strategic
relationships and other risks detailed in the company's filings with the
Securities and Exchange Commission. First Solar assumes no obligation to
update any forward-looking information contained in this press release
or with respect to the announcements described herein.
NextEra Energy Resources Contacts
First Solar Contacts
Public Relations Director, Americas
Vice President, Investor Relations
Director, Investor Relations
Manager, Investor Relations
Source: First Solar, Inc. & NextEra Energy Resources, LLC
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