Southern Company subsidiary Southern Power has announced the acquisition of the US 120-megawatt (MW) East Pecos Solar Facility from First Solar.
Southern Company Chairman, President and CEO Thomas A. Fanning, stated:
"Southern Power's acquisition of the East Pecos Solar Facility underscores the company's commitment to strategically develop renewables across America. This project aligns with its conservative business model as Southern Power has built one of the nation's largest renewable energy portfolios."
The East Pecos Solar Facility will be located on approximately 1,000 acres in Pecos County and is expected to consist of approximately 1.2 million of First Solar's thin-film, photovoltaic solar modules mounted on single-axis tracking tables.
First Solar is building and will operate and maintain the facility. Construction began in February and the facility is expected to reach commercial operation in the fourth quarter 2016.
The electricity and associated renewable energy credits (RECs) generated by the facility will be sold under a 15-year power purchase agreement with Austin Energy, which will have the option to keep or sell the RECs.