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First Solar, Apple ink industry's largest commercial power deal

Posted: 12 Feb 2015 ?? ?Print Version ?Bookmark and Share

Keywords:First Solar? Apple? solar project? renewable energy?

First Solar Inc. has revealed that Apple has dedicated $848 million for clean energy from First Solar's California Flats Solar Project in Monterey County, Calif. Under a 25-year power purchase agreement (PPA), Apple will receive electricity from 130MW AC of the solar project, said to be the largest agreement in the industry to provide clean energy to a commercial end user.

"Apple is leading the way in addressing climate change by showing how large companies can serve their operations with 100 per cent clean, renewable energy," said Joe Kishkill, chief commercial officer for First Solar. "Apple's commitment was instrumental in making this project possible and will significantly increase the supply of solar power in California. Over time, the renewable energy from California Flats will provide cost savings over alternative sources of energy as well as substantially lower environmental impact."

The 2,900-acre California Flats Solar Project occupies 3 per cent of a property owned by Hearst Corp. in Cholame, Calif. Construction is expected to begin in mid-2015, and to be completed by the end of 2016. The output of the remaining 150MW of the project will be sold to Pacific Gas & Electric under a separate long-term PPA, and the project is fully subscribed between the Apple and PG&E PPAs.

In January, the Monterey County Planning Commission unanimously approved the California Flats Solar Project, sending the project to the Monterey County Board of Supervisors, which will consider final approval of the project.

This deal marks the first wholesale commercial and industrial PPA executed by First Solar.





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