First Solar received board approval from the Overseas Private Investment Corporation (OPIC), the U.S. Government's development finance institution, and IFC, a member of the World Bank Group, for financing to support construction of the 141-MW Luz del Norte solar power plant in Chile's Atacama Desert. The loans, which are expected to close later this summer, clear the way for First Solar to proceed with construction planning at the site, which is near the city of Copiapo. Terms of the deals were not disclosed.
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First Wind finalized seven 20-year PPAs with Rocky Mountain Power, a division of PacifiCorp. As part of the purchase agreements, Rocky Mountain Power will buy the output of the planned 20-MW Seven Sisters projects under its obligation from the federal Public Utility Regulatory Policies Act, or PURPA. The Seven Sisters portfolio includes seven separate solar photovoltaic projects, four of which are to be sited in Beaver County and three to be located in Iron County, Utah.
Seattle City Light, the Woodland Park Zoo and the Phinney Neighborhood Association (PNA) installed Washington state's largest community solar project to date. The Community Solar on Phinney Ridge project is designed for a 73 to 74 kW system on the roofs of two buildings at the zoo and PNA's Phinney Center. Anyone with a Seattle City Light account can purchase part of the array's output and the cost of which can be added to a participant's electric bill and paid in two installments.
First Solar completed the sale of the 250-MW Silver State South Solar Project to a subsidiary of NextEra Energy Resources. Terms of the transaction were not disclosed. The project is adjacent to the 50MWAC Silver State North Project, which was developed and built by First Solar and commissioned in 2012. First Solar developed and designed the Silver State South project, and will provide EPC services to NextEra. All the power from Silver State South will be sold to Southern California Edison under a long-term PPA.
Xcel Energy and SunPower signed a PPA to build a 50-MW solar power plant in Colorado's San Luis Valley. Construction of the solar power plant is contingent on the project securing all required permits, interconnection rights and financing. SunPower expects to start construction in 2015, and to achieve full commercial operation by the end of 2016. At the 320-acre site, SunPower will design and build a SunPower Oasis Power Plant system.
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