First Solar Buys New Mexico Project From Element Power

First Solar Inc., the biggest maker of thin-film solar products, bought the 50-megawatt Macho Springs project in New Mexico from Element Power Solar for an undisclosed amount.

The Luna County project will be completed next year, the Tempe, Arizona-based company said today in a statement. El Paso Electric Co. plans to buy the output from the solar energy field under a long-term contract that still needs state regulatory approval.