Tri-State, First Solar Sign Major Development Agreement

Tri-State Generation and Transmission Association has entered into an
agreement with Tempe, Ariz.-based First Solar, Inc. (Nasdaq: FSLR) to
develop a 30-megawatt (mw), 500,000-panel solar photovoltaic power
plant in northeastern New Mexico.

As planned the "Cimarron I Solar Project" is the largest photovoltaic
project by an electric cooperative and among the largest facilities of
its kind in the world.

A workforce of 120 to 140 construction personnel will be required
during construction of the facility, which is scheduled to begin by
April 2010, with the first portion of the system producing energy by
August. The facility is scheduled to be fully operational by the end of
2010.

First Solar is one of the many green stocks covered in Progressive Investor. Click here to learn more.  

The project will be located on a 250-acre parcel of land in
Colfax County, located between the towns of Cimarron and Springer,
N.M.–within the service territory of Springer Electric Cooperative,
one of Tri-State’s 12 New Mexico member co-ops.

The facility will provide enough energy to serve the equivalent
needs of approximately 9,000 homes and help Tri-State to displace
emissions of carbon dioxide.

"This is a significant venture for Tri-State that meets several
objectives identified by our board of directors," Tri-State general
manager and executive vice president Ken Anderson said. "It further
diversifies our generation mix, it assists us in addressing carbon
emissions and it helps meet our members’ renewable energy
requirements."

The solar field will consist of approximately 500,000 2′ x 4′
photovoltaic modules constructed with First Solar’s thin film
semiconductor technology. First Solar will act as the engineering,
procurement and construction (EPC) contractor and will monitor and
maintain the facility.

Tri-State has contracted to purchase the electricity output from
the facility for a 25-year period. Financial and operational terms of
the agreement were not disclosed.

Website: http://www.tristategt.org/     
(Visited 2,965 times, 1 visits today)

Post Your Comment

Your email address will not be published. Required fields are marked *