Ted Turner buys into Nevada solar plant
Ted Turner and Southern Co. went in on a Nevada solar power plant.
Southern Co. has teamed with media mogul Ted Turner to buy a 20-megawatt solar photovoltaic power plant from San Francisco-based SunEdison.
Financial terms were undisclosed.
Atlanta-based Southern Co. (NYSE: SO) and Turner will also bring the Apex Solar Project online during the third quarter of 2012.
The plant is on a 154-acre site in North Las Vegas, Nev. SunEdison will be responsible for ongoing operations and maintenance for the facility.
The project will have 88,000 poly-crystalline solar modules provided by Trina Solar. Electricity generated by the plant will serve a 25-year power purchase agreement with Nevada Power Co.
Turner partnered with Southern Co. in January 2010 to form an alliance to develop renewable energy projects in the United States. The two are focusing on developing and investing in large-scale solar photovoltaic projects in the Southwest, where solar resources are most in demand, they said in a joint announcement.
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