Southern Buying California Project From First Solar

Oct. 23 (Bloomberg) — Southern Co., the third-largest U.S.
power company by market value, agreed to buy a 150-megawatt
solar project in California from First Solar Inc. for an
undisclosed amount.

The Solar Gen 2 project will be the largest Southern owns,
capable of generating enough electricity for about 60,000 homes,
the Atlanta-based company said today in a statement. First
Solar, a panel maker, will buy back a minority stake in the
project, which it acquired last year from a group including a
Goldman Sachs Group Inc. affiliate.

Construction of the project, which spans almost 1,500 acres
in Imperial County, is expected to be complete this quarter.
Sempra Energy’s San Diego Gas & Electric has agreed to buy power
from the solar farm under a 25-year contract.

Duke Energy Corp. and NextEra Energy Inc. are the two
largest U.S. power companies by market value.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Tina Davis, Andrew Hobbs

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