First Solar to Add 30 MW Solar Plant in New Mexico

First Solar, Southern Co. and Turner Renewable Energy inked a deal last week that will add 30 megawatts of utility-scale solar power to the New Mexico electric grid. First Solar announced the project, which will consist of 500,000 cadmium telluride (CdTe) solar panels made by the thin-film industry’s leading manufacturer. Construction is due to begin before the end of March and the power plant should be operational by the end of the year.

First Solar is trying to expand its range within the solar market through commercial and utility-scale solar projects. Last year, the company took on responsibility for nearly 2,000 MW-worth of prospective solar projects from struggling solar company OptiSolar. Those projects included the proposed 550 MW Topaz Solar Farm scheduled to begin construction in 2010 and be fully operational in 2013.

First Solar has the lowest production costs in the solar industry, although its CdTe solar panels are less efficient than silicon-based panels, the leading solar product on today’s market. The Arizona-based company will engineer, construct and operate the PV plant under a 25-year contract. The northern New Mexico plant will supply enough solar power for up to 9,000 homes or 18,000 residents. The financial aspects of the deal were not disclosed.

Source: Reuters

Photo Credit: Treehugger

Posted on March 26th in Solar News by Dan.