Goldman Sachs Renewable Power acquires 123-MW solar project from First Solar

• First Solar announced that Goldman Sachs Renewable Power, a personal business handled by the Renewable Power Group of Goldman Sachs Asset Management (GSAM), got the 123-MWAC American Kings Solar project in a transaction that shut at the end of June 2020. Found in Kings County, California, the project is backed by a 15-year Power Purchase Agreement (PPA) with Southern California Edison as well as is set up to be commissioned in the fourth quarter of 2020.

" We are delighted to partner with First Solar and M&T Bank in obtaining the American Kings Solar project. This is a bankable nuclear power plant backed by a long-lasting PPA, that is properly developed, and also will certainly create the most affordable carbon electricity feasible today," claimed Greg Roer, VP of GSAM Renewable Power Group. "We think that this center will have a favorable impact on the environment as well as the community by directly displacing carbon emissions. We expect including it to our expanding portfolio in the United States."

The center will be powered by First Solar's Series 6 photovoltaic (PV) modules, made and established at the business's research and development (R&D) facilities in California and also Ohio. The module establishes sector benchmarks for quality, reliability, design and also environmental performance. With a carbon impact that depends on six times lower than crystalline silicon PV panels manufactured utilizing conventional, energy-intensive manufacturing approaches, Series 6 delivers an exceptional environmental account and the most affordable carbon solar electrical energy readily available today.

" GSRP as well as First Solar share a typical vision for a future powered by lasting energy, and a commitment to accomplishing this by establishing and also maintaining a few of the greatest ecological stewardship requirements in the industry. We give thanks to GSRP for its trust and for recognizing the worth of including a First Solar-developed project to its profile," claimed Richard Romero, VP of project financing as well as treasury for First Solar. "As America's solar company, we're pleased that this project will certainly sustain California's initiatives to decarbonize its electrical energy with technology established in the state."

" Partnering with GSRP on its procurement of the American Kings solar project stands for M&T's ongoing commitment to the renewable energy field," claimed Eric Heintz, supervisor of Energy Finance at M&T Bank, which will offer the tax equity financing for the project. "GSRP is a strong team well placed to relocate the American Kings campaign forward as well as bring all of us closer to our shared objective of a tidy energy future."