(RTTNews) - First Solar, Inc. (FSLR: News ) Monday revealed the sale of the 21 megawatt AC solar energy project it developed and constructed in Blythe, California, to NRG Energy, Inc. The company will provide operations and maintenance services at Blythe under a long-term contract with NRG. Financial terms of the agreement were not revealed.

According to First Solar, the Blythe project is California's first and largest utility-scale photovoltaic solar generation facility, and among the largest in North America. It is located in Riverside County about 200 miles east of Los Angeles.

Construction of the project began in September and is expected to be completed by year-end. Electricity from the plant will be sold to Southern California Edison under a 20-year power purchase agreement.

The company said that using its thin film photovoltaic panels, which convert sunlight directly into electricity with no water consumption during operation, the project will generate over 45,000 megawatt-hours of electricity per year. The solar generation displaces over 12,000 tons of carbon dioxide emissions per year.
Bruce Sohn, president of First Solar, said, "First Solar is very pleased that the first of our utility-scale solar projects in California will be coming on line with a leading power producer like NRG. This clean, affordable, and sustainable energy will help California meet the goals of its Renewable Portfolio Standard."

First Solar said it is developing 1,300 megawatts of photovoltaic solar projects under contracts with utilities in California and the Southwest.

FSLR closed Friday's regular trade at $121.18, up from the previous close of $121.13, on 1.65 million shares.

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by RTT Staff Writer

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