First Solar to Build New Solar Plant for NRG

on March 12, 2012 12:05 PM EDT

Solar
First Solar Inc will build a 26-megawatt solar power plant for power producer NRG Energy Inc in Arizona under the latest deal between two of the biggest players in the U.S. renewable energy sector. (Photo: Reuters)

First Solar Inc will build a 26-megawatt solar power plant for power producer NRG Energy Inc in Arizona under the latest deal between two of the biggest players in the U.S. renewable energy sector.

NRG is the majority owner of the 290-megawatt Agua Caliente plant that First Solar is building near Yuma, Arizona, and the two companies previously teamed up on a 21-MW plant in Blythe, California, in 2009 and the 20-MW Road Runner plant in New Mexico last year.

The new plant, the Avra Valley solar project, will be built by First Solar and use the U.S. company's thin film panels mounted on a tracker that tilts the panels to follow the sun's arc, the companies said on Monday.

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Financial details of the deal were not released.

It is expected to be completed by the end of 2012, and will sell its output to UniSource Energy Corp's Tucson Electric Power under a 20-year contract.

Shares in First Solar rose 1.7 percent in premarket trading to $27.96 per share.

Source: Reuters

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