First Solar and SMUD Sign Rancho Seco 10.8MW Power Purchase Agreement
October 29 2015 - 8:00AM
Business Wire
Project will be sited adjacent to decommissioned nuclear
plant
Golden 1 Center to receive power through SMUD’s SolarShares
program
First Solar, Inc. (NASDAQ: FSLR) and the Sacramento Municipal
Utility District (SMUD) have announced the formal execution of a
power purchase agreement (PPA) for offtake of a 10.8 megawatt solar
project to be built on the site of the decommissioned Rancho Seco
Nuclear Generation Station.
The Rancho Seco Solar Project will annually generate more than
22,000 MWh of clean, renewable energy, which will be offered to
SMUD business customers through the utility’s Commercial
SolarShares program, helping them achieve sustainability goals
while reducing their need to purchase fossil-fuel generated power
at peak demand hours. The new Golden 1 Center is the first
announced customer that will receive electricity generated by
Rancho Seco.
“We are excited to be working on this project, which provides
access to solar power for businesses that might not otherwise be
able to include it in their energy procurement strategies due to
cost, lack of available rooftop space or other factors,” said Brian
Kunz, First Solar’s Vice President of Project Development – US
West. “SMUD’s innovative SolarShares program exemplifies how a
utility can serve its community in both environmentally and
economically favorable ways.”
“SMUD is a leader in delivering renewable energy to our
customers,” said Frankie McDermott, SMUD Chief Generation and Grid
Assets Officer. “This project will further enhance the renewable
aspect our power mix, which is already about 50 percent
non-carbon-emitting, helping us meet our Board of Directors’ and
the state’s carbon objectives. The use of previously-developed land
at Rancho Seco and existing SMUD-owned power lines also provides
significant environmental benefit.”
The Rancho Seco Solar Project is situated on 60 acres of
SMUD-owned property including the location of the decommissioned
Rancho Seco Nuclear Generation Station. The property also
originally hosted a 1980s-era 3.2MW SMUD solar array, one of the
first utility-scale solar power plants in the world. Construction
of the new Rancho Seco Solar Project is expected to commence in the
fourth quarter of 2015, with commercial operation beginning in
mid-2016.
About First Solar, Inc.
First Solar is a leading global provider of comprehensive
photovoltaic (PV) solar systems which use its advanced module and
system technology. The company’s integrated power plant solutions
deliver an economically attractive alternative to fossil-fuel
electricity generation today. From raw material sourcing through
end-of-life module recycling, First Solar’s renewable energy
systems protect and enhance the environment. For more information
about First Solar, please visit www.firstsolar.com.
For First Solar Investors
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version on businesswire.com: http://www.businesswire.com/news/home/20151029005492/en/
First Solar MediaSteve Krum+1
602-427-3359steve.krum@firstsolar.comorFirst Solar InvestorsStephen
Haymore+1 602-414-9315stephen.haymore@firstsolar.com
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