First Solar has signed an agreement with Leeward, under the terms of which First Solar will sell to Leeward a 10 GW solar project platform, which includes projects in the California, Southwest and Southeast markets (United States). The transaction, which is expected to close in the first quarter of 2021, comprises 773 MW of projects that are expected to commence construction in the next two years (Rabbitbrush, Madison, Oak Trail, Horizon, and Ridgely projects), as well as the 30 MW Barilla Solar Project, which is operational.
The deal also encompasses purchase orders for 888 MWDC of First Solar’s Series 6 photovoltaic (PV) solar modules for the development projects. In addition, upon completion of the transaction, Leeward is expected to buy 650 MW of First Solar’s Series 6 modules for additional development opportunities. Leeward, an affiliate of Canadian pension fund OMERS, owns and operates a portfolio of 21 wind project in the US totalling approximately 2 GW.
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