First Solar completes NextLight purchase (Phoenix)

First Solar Inc. has finished the purchase of NextLight Renewable Power LLC for about $297 million.

With the purchase, Tempe-based First Solar (Nasdaq: FSLR) expands its portfolio of power purchase agreements with utilities to 2.2 gigawatts and continues a trend of the company buying others with utility agreement pipelines.

First Solar should start construction on the first project in NextLight’s portfolio with a 290-megawatt power plant in Yuma County, which will sell power to Pacific Gas and Electric Co.

Via the Phoenix Business Journal.

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