First Solar selling Yuma plant to NRG

First Solar Inc. is selling its largest planned photovoltaic utility power plant, set to begin service in 2014, to NRG Energy Inc. Tempe-based First Solar (Nasdaq:FSLR) and Princeton, N.J.-based NRG (NYSE:NRG) announced the deal for the 290-megawatt Agua Caliente project Tuesday, with plans by NRG to invest up to $800 million into the project as well as getting an undisclosed sum from the U.S. Department of Energy. The project, being built outside Yuma, has a 25-year power purchase agreement with Pacific Gas and Electric Co. It will produce enough power for about 225,000 homes. The deal marks an increased presence by NRG in Arizona’s energy markets. Earlier this year, NRG bought the Northwind Energy Center from APS Energy Services Co., a division of Pinnacle West Capital Corp.

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