Washington, 26 August (Argus) — First Solar has sold three solar projects totaling 50MW in Canada to an investment partnership led by GE Energy Financial Services.
The projects sold are the 10MW Amherstburg, 20MW Belmont and 20MW Walpole solar facilities, all located in the province of Ontario. The projects were bought by the ABW Partnership, which consists of majority owner GE Energy Financial Services and Alterra Power. First Solar will provide operations and maintenance services under long-term contracts. Terms of the deal were not disclosed.
First Solar said it has finished construction of the projects, which are now providing power to the grid. The plants' output will be sold to the Ontario Power Authority under its Renewable Energy Standard Offer Program, with 20-year power purchase agreements. The program is a feed-in tariff that provides a guaranteed price for electricity generated from renewable sources.
Earlier this month, First Solar and GE announced that First Solar had acquired GE's solar technology intellectual property and that the two companies had entered into a collaborative commercial partnership.
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