Press release
Goldman Sachs Renewable Power LLC Acquires 123MW Project from First Solar
American Kings Solar project backed by 15-year PPA with a California utility TEMPE, Ariz., July 23, 2020 (GLOBE NEWSWIRE) -- First Solar, Inc. (Nasdaq: FSLR)
About this update from First Solar, Inc.
[{"type":"text","content":"American Kings Solar project backed by 15-year PPA with a California utility\nTEMPE, Ariz., July 23, 2020 (GLOBE NEWSWIRE) -- First Solar, Inc. (Nasdaq: FSLR) announced that Goldman Sachs Renewable Power LLC (GSRP), a private company managed by the Renewable Power Group of Goldman Sachs Asset Management (GSAM), acquired the 123-megawatt (MW)AC American Kings Solar project in a transaction that closed at the end of June 2020. Located in Kings County, California, the project is backed by a 15-year Power Purchase Agreement (PPA) with Southern California Edison and is scheduled to be commissioned in the fourth quarter of 2020.\n\n \n \n \n \n \n \n \n \n \n \n \n American Kings will be powered by First Solar’s Series 6 photovoltaic (PV) modules, designed and developed at the Company’s research and development (R&D) centers in California and Ohio. With a carbon footprint that is up to six times lower than crystalline silicon PV panels manufactured using conventional, energy-intensive production methods, Series 6 delivers a superior environmental profile and the lowest carbon solar electricity available today.\n \n \n \n \n \n \n \n \n\n “We are excited to partner with First Solar and M&T Bank in acquiring the American Kings Solar project. This is a bankable power plant backed by a long-term PPA, that is responsibly developed, and will generate the lowest carbon electricity possible today,” said Greg Roer, vice president, GSAM Renewable Power Group. “We believe that this facility will have a positive impact on the environment and the community by directly displacing carbon emissions. We look forward to adding it to our growing portfolio in the United States.” The facility will be powered by First Solar’s Series 6 photovoltaic (PV) modules, designed and developed at the Company’s research and development (R&D) centers in California and Ohio. The module sets industry benchmarks for quality, reliability, design, and environmental performance. With a carbon footprint that is up to six times lower than crystalline silicon PV panels manufactured using conventional, energy-intensive production methods, Series 6 delivers a superior environmental profile and the lowest carbon solar electricity available today. “GSRP and First Solar share a common vision for a future powered by sustainable energy, and a commitment to achieving this by establish...