First Solar Signs Purchase Agreements With Pacific Gas And Electric

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First Solar Inc. (FSLR) Is Heading Higher After Q1 Report

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9/11/2012 12:56 PM ET

First Solar Inc. (FSLR: Quote) announced that it has signed power purchase agreements with Pacific Gas and Electric Company or PG&E for 72 megawatts AC of solar electricity to be generated at two photovoltaic power plants that First Solar is developing in central California.

The 32-megawatt Lost Hills project in Kern County and the 40-megawatt Cuyama project in Santa Barbara County are expected to create up to 600 jobs at peak construction.

The power purchase agreements—each with a delivery term beginning in 2019—are subject to approval by the California Public Utilities Commission, whose decision is expected in the first half of 2013.

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