First Solar Sells 250 MW Moapa Solar Project to Capital dynamics

First Solar announced that it has completed the sale of the cash equity interests in the 250 Mw Moapa Solar Project in Nevada to global private asset manager Capital Dynamics. GE unit GE Energy Financial Services, and an affiliate of the Goldman Sachs Group shared Minority tax equity interests in the project. First Solar Energy Services will operate and maintain the power plant for Capital Dynamics.

Moapa Solar Project is located on the Moapa river Indian Reservation, this facility is the first-ever utility-scale solar power plant to be built on tribal land, and has a long-term power purchase agreement with LADWP to bring clean, renewable energy to approximately 111,000 residents in Los Angeles.

 First Solar’s Chief Commercial Officer, Georges Anton said that this has been an exciting project to develop and build. Their technology is driving down the cost of solar electricity and enabling power providers to include competitive, reliable renewable energy in their portfolios. They are proud to transfer ownership of this power generation asset to Capital Dynamics.

John Breckenridge, head of Clean energy and infrastructure Capital Dynamics said that the Moapa project is an important step in the Clean Energy and Infrastructure strategy of Capital Dynamics continue to be long-term owners of high quality power generation assets in North America and Europe. They are particularly pleased that with Moapa, they expand their strong relationship with First Solar.

Image Source: First Solar