First Solar, Inc. and D. E. Shaw Renewable Investments, L.L.C. (DESRI) have announced the acquisition by a DESRI affiliate of the 11 MW Rancho Seco Solar Project in Sacramento County, California (USA) from First Solar. Terms of the deal were not disclosed.
Rancho Seco is situated on 60 acres of property owned by the Sacramento Municipal Utility District (SMUD), which holds a 20-year Power Purchase Agreement (PPA) for energy from the plant (as we reported in late October 2015.
Rancho Seco utilizes First Solar’s thin film modules mounted on single-axis tracking tables. The project is expected to produce more than 23,000 MWh of clean energy per year.
Bryan Martin, CEO of DESRI, said:
“We are pleased to buy another First Solar project and incorporate their leading edge equipment into our operating fleet,“First Solar brings a tremendous depth of technological expertise and we look forward to partnering with them on more opportunities in the future.”
Brian Kunz, First Solar’s Vice President of Project Development, said:
“We are pleased to build on our relationship with DESRI through this sale. DESRI’s commitment to renewable solar energy represents a tremendous opportunity for a continued strategic partnership.”