First Solar to Develop 139 MW Campo Verde Solar Project
TEMPE, Ariz.--(BUSINESS WIRE)--
First Solar, Inc. (Nasdaq: FSLR) today announced it is developing the
139 megawattAC (MW) Campo Verde Solar Project, located near
El Centro in Imperial County, Calif.
Campo Verde is expected to start construction in the third quarter of
2012 and be completed in 2013, creating about 250 construction jobs. San
Diego Gas & Electric Company (SDG&E) will purchase the project's output
under a 20-year power purchase agreement, which was approved on May 24,
2012 by the California Public Utilities Commission.
First Solar will construct the project using its advanced thin film PV
modules that generate clean, renewable energy with no emissions, waste
or water consumption during operation. The project will generate enough
electricity to power approximately 50,000 average California homes,
displacing 80,000 metric tons of CO2 per year, the equivalent
of taking 15,000 cars off the road.
"First Solar is very pleased to be working with SDG&E for the first time
to deliver clean, renewable energy and create hundreds of construction
jobs in Imperial County," said Brian Kunz, First Solar Vice President of
Project Development, North America.
The Campo Verde project is jointly owned by First Solar and US Solar
Holdings LLC, but First Solar has contractual rights to acquire 100
percent ownership interest and is in the process of completing its
About First Solar, Inc.
First Solar is a leading global provider of comprehensive photovoltaic
(PV) solar systems which use its advanced thin-film modules. The
company's integrated power plant solutions deliver an economically
attractive alternative to fossil-fuel electricity generation today. From
raw material sourcing through end-of-life module collection and
recycling, First Solar's renewable energy systems 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.
About US Solar Holdings LLC
US Solar is a leading developer of solar powered generation in the
United States, with offices in Boise, Phoenix and San Diego. For more
information about US Solar Holdings LLC, please visit www.ussolarholdingsllc.com.
Source: First Solar, Inc.
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