First Solar Sells California Flats Project to Capital Dynamics

August 22, 2017

First Solar has completed the sale of its 280 Megawatt (MW) AC California Flats Solar Project in Monterey County, Calif., to global private asset manager Capital Dynamics. Financial terms were not disclosed. Shares of First Solar are up 1% in pre-market trading.

California Flats comprises two phases. The first phase is expected to be commissioned in Q4, and is fully contracted under a long-term Power Purchase Agreement (PPA). The second phase, which is currently under construction, is expected to be commissioned by the end of 2018, and is fully contracted under a long-term PPA.

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By Bryan Smith

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