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First Solar Buys 150-Megawatt California Solar Power Project

First Solar Inc. (FSLR) bought the 150- megawatt Solar Gen 2 project in California from an affiliate of Goldman Sachs Group Inc. (GS), Energy Power Partners and a third unnamed partner. Terms of the deal weren’t disclosed.

Construction is expected to start this year and the project will be done in 2014, Tempe, Arizona-based First Solar said in a statement today. Sempra Energy (SRE)’s San Diego Gas & Electric utility will buy power from Solar Gen 2 under a 25-year agreement.

First Solar said 40 megawatts of solar modules from another supplier were already purchased and will be used on the project. First Solar will supply the rest.

To contact the editor responsible for this story: Tina Davis at tinadavis@bloomberg.net

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