Thin-film solar panel maker First Solar Inc. (NASDAQ: FSLR) yesterday announced an agreement to build the 26-megawatt Avra Valley solar project near Tucson, Arizona. The plant will be owned by NRG Energy Inc. (NYSE: NRG) and will sell electricity under a 20-year power purchase agreement to Tucson Electric.
Construction will begin this month, and about 200 jobs will be created during the construction phase of the project. The plant is scheduled for completion by the end of this year. The construction cost was not revealed, but the size of the plant is considerably smaller than the 550-megawatt Topaz project that is expected to cost about $2 billion to construct. Berkshire Hathaway Inc. (NYSE: BRK-A) acquired the Topaz plant through its MidAmerican Energy Holdings subsidiary.
First Solar’s shares are up about 4.8% today at $27.07 in a 52-week range of $25.29-$163.00.
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