40 MW St. Clair Projects Begin Commercial Operation
JUNO BEACH, Fla. & TEMPE, Ariz.--NextEra Energy Resources, LLC, the competitive energy subsidiary of NextEra Energy, Inc. (NYSE:NEE), and First Solar, Inc. (Nasdaq:FSLR) today announced the completion of NextEra Energy Resources' acquisition of two solar photovoltaic (PV) projects totaling 40 megawatts (AC) in Ontario, Canada from First Solar.
The projects, located in St. Clair, were designed, developed and constructed by First Solar, using its advanced thin film PV modules, and began commercial operation in February, 2012. The two projects are owned and operated by subsidiaries of NextEra Energy Resources' Canadian subsidiary, NextEra Energy Canada, ULC, and provide enough power to serve about 6,440 homes. Each year the solar generation is expected to help avoid nearly 45,000 tons of carbon dioxide, which is the equivalent of removing nearly 8,600 cars from the road every year for the life of the projects. The power is being sold to the Ontario Power Authority via long-term contracts under its Renewable Energy Standard Offer Program (RESOP).
"We are pleased to have completed the acquisition of our initial Canadian solar projects. This acquisition is consistent with our strategy to add fully contracted renewable assets to our portfolio," said NextEra Energy Resources' Senior Vice President of Development Mike O'Sullivan. "Solar power will help promote a clean-energy economy in Ontario and reduce its dependence on fossil fuels."
"The completion of the St. Clair projects helps Ontario meet its economic and renewable energy goals," said Peter Carrie, First Solar Vice President for Business Development, Canada. "The projects employed 800 construction workers, including local First Nations workers, and are the first large-scale solar facilities permitted under the Province's Renewable Energy Approval process."
NextEra Energy Resources
NextEra Energy Resources, LLC (together with its affiliated entities, "NextEra Energy Resources"), is a clean energy leader and is one of the largest competitive energy suppliers in North America, operating in 23 states and Canada. NextEra Energy Resources is the largest generator in North America of renewable energy from the wind and sun, owning and operating approximately 8,569 megawatts of wind and 158 megawatts of solar power at the end of 2011. The business operates clean, emissions-free nuclear power generation facilities in New Hampshire, Iowa and Wisconsin as part of the NextEra Energy nuclear fleet, which is the third largest in the United States. NextEra Energy Resources, LLC is a subsidiary of Juno Beach, Fla.-based NextEra Energy, Inc. (NYSE: NEE). For more information, visit www.NextEraEnergyResources.com.
About First Solar, Inc.
First Solar manufactures solar modules with an advanced semiconductor technology and is a premier provider of comprehensive photovoltaic (PV) system solutions. The company is delivering an economically viable alternative to fossil-fueled generation today. From raw material sourcing through end-of-life collection and recycling, First Solar is focused on creating value-driven renewable energy solutions that protect and enhance the environment. For more information about First Solar, please visit www.firstsolar.com.