D.E. Shaw Renewable Investments acquires Utah projects from First Solar
First Solar announced that D. E. Shaw Renewable Investments is the acquirer of the Cove Mountain and Cove Mountain 2 projects in Iron County, Utah. The acquisition of the two projects, the sales of which were previously disclosed by First Solar and which total 180 megawatt AC in capacity, nearly doubles DESRI's portfolio of First Solar-developed projects to over 360MWAC. Cove Mountain and Cove Mountain 2, both under construction with completion expected in the second and fourth quarters of 2020, have long-term Power Purchase Agreements with PacifiCorp on behalf of Facebook, providing Facebook's data center operations with new solar resources. DESRI has previously acquired four First Solar-developed projects in California: the 100MWAC Willow Springs Solar Project in Kern County; the 40MWAC Cuyama Solar Project in Santa Barbara County; the 31MWAC Portal Ridge Solar Project in Los Angeles County; and the 11MWAC Rancho Seco Solar Project in Sacramento County. Once commissioned, both projects will be operated by First Solar Energy Services, which, with over 10 gigawatts under management, is the solar industry's most experienced Operations and Maintenance service provider for large-scale solar power plants. Both projects will be powered by First Solar's Series 6 module technology. Produced in just 3.5 hours using sophisticated, fully-integrated manufacturing processes, each large-format Series 6 module leverages First Solar's proprietary thin film technology, retaining the proven performance and reliability advantages of earlier generation modules. With a carbon footprint that is up to six times lower than crystalline silicon PV panels that are manufactured using conventional, energy-intensive production methods, Series 6 delivers a superior environmental profile and cleaner solar electricity.