Deals
Sumitomo Buys 25% Stake in 550-Megawatt First Solar Project
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Sumitomo Corp., Japan’s third-largest trading house, bought 25 percent of a power project First Solar Inc. is building in southern California to expand its renewable-energy portfolio.
Sumitomo acquired the stake from General Electric Co., which jointly owns the 550-megawatt Desert Sunlight solar farm with NextEra Energy Inc., the Tokyo-based company said today in a statement. Terms weren’t disclosed.