First Solar sells 10GW solar project business to Canadian pension plan fund

• ' Solar Module Super League' (SMSL) member First Solar has actually sold a huge part of its PV project business to Leeward Renewable Energy amounting to around 10GW.

Leeward Renewable Energy is a subsidiary of OMERS Infrastructure, a financial investment arm of OMERS, a significant Canadian pension plan fund.

Jason Allen, ceo at Leeward Renewable Energy stated, "This procurement will certainly sustain our hostile development approach as a leading independent power producer and also elevate Leeward's popular setting in today's power market. The general public acknowledges that renewable resource is a key vehicle driver in combating the global problem of environment adjustment. Solar and renewable modern technologies continue to advance and also now give financially viable options in basically every market in the United States. We will certainly continue to expand our wind, solar, and also storage existence so we can continue to give tidy energy to our existing and future consumers as they pursue their net-zero exhaust objectives."

First Solar claimed it would have 1.1 GW (AC) of US projects staying in its portfolio that it will certainly sell separately, while key members of its project development group would certainly be joining Leeward. First Solar had around 500 staff in its systems service at the end of 2019.

Leeward is acquiring several of the projects that currently have solar module purchase orders affixed to the projects, while 744MW (DC) of module orders were stated to be new reservations out of a total amount of 1.8 GW (DC).

First Solar is undergoing a rationalisation of its organization that will concentrate on solar module sales in the future. The firm has actually said that shipments in 2020 hit 5.9 GW.