First Solar Inc. bought the 150-megawatt Solar Gen 2 project in California from an affiliate of Goldman Sachs Group Inc., 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’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.