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

To contact the editors responsible for this story:
Reed Landberg at
Tina Davis, Andrew Hobbs

About BloombergNEF

BloombergNEF (BNEF), Bloomberg’s primary research service, covers clean energy, advanced transport, digital industry, innovative materials and commodities. We help corporate strategy, finance and policy professionals navigate change and generate opportunities.

Available online, on mobile and on the Terminal, BNEF is powered by Bloomberg’s global network of 19,000 employees in 176 locations, reporting 5,000 news stories a day.
Sign up for our free weekly newsletter →

Want to learn how we help our clients put it all together? Contact us