First Solar (FSLR) Sells Rest Of Desert Sunlight Solar Energy To PGE

Helping to ease the sting of a JP Morgan (JPM) downgrade, First Solar (FSLR) has found a buyer for 300MW of solar energy that will be produced from a plant its manufacturing in SoCo.  Pacific Gas & Electric will purchase 300MW of the 550MW expected output of the Desert Sunlight project with Southern California Edison purchasing the rest.  Both power purchase agreements are still subject to approval by the California Public Utilities Commission, but don’t expect any problems there.  Construction of Desert Sunlight is expected to begin later this year and be completed by 2013, powering around 160K homes.

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