First Solar sells California flats project to Capital Dynamics
First Solar announced it has completed the sale of the 280 Megawatt AC California Flats Solar Project in Monterey County, Calif., to global private asset manager Capital Dynamics. Terms of the deal were not disclosed. Located on approximately 2,900 acres of ranch land within the Jack Ranch owned by the Hearst Corporation near the San Luis Obispo and Monterey County borders, California Flats comprises two phases. The 130MW first phase is expected to be commissioned in the fourth quarter of 2017, and is fully contracted under a long-term Power Purchase Agreement. The 150MW second phase, which is currently under construction, is expected to be commissioned by the end of 2018, and is fully contracted under a long-term PPA.