Enbridge Acquires 50-MW Nevada Solar Project From First Solar

3/22/2012 12:53 PM ET

Enbridge Inc. (ENB, ENB.TO) and First Solar Inc. (FSLR) announced that Enbridge has acquired a 100 per cent interest in the 50-megawatt (MW) Silver State North photovoltaic (PV) project that First Solar has developed and constructed in Clark County, Nevada, near the community of Primm. Terms of the transaction were not disclosed.

First Solar stated that it will provide operations and maintenance services to Enbridge under a long-term contract. NV Energy will purchase the energy output under a 25-year power purchase agreement (PPA) approved in 2010 by the Public Utilities Commission of Nevada.

First Solar will recognize revenue from Silver State North after final testing and commissioning, expected in the second quarter of 2012.

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