Canadian Solar, Southern Power announce partnership for 200MW California plant

(SO) announced the acquisition of a controlling interest in the company’s largest solar asset – the 300-megawatt (MW) Desert Stateline Facility in California – from First Solar Inc.

First Solar Inc., which is building the project in San Bernardino County, Southern said today in a statement. The project includes the installation of over 800,000 polycrystalline photovoltaic (PV) solar modules that will be mounted on tracking tables. Signal Energy Constructors will provide engineering, procurement, and construction services at the project.

The entire Desert Stateline plant is seen to become fully operational in the third quarter of next year.

Dr. Shawn Qu, chairman and chief executive officer of Canadian Solar, said: “The Tranquillity project is an attractive opportunity for investors, providing long term stable cash flows”. “We will continue to develop the right projects and develop innovative solutions as we shape America’s energy future”.

This project represents Southern Power’s and First Solar’s fourth shared acquisition. The project will support Southern California Edison???s efforts to meet the California Renewables Portfolio Standard (RPS) of 33 percent renewable energy by 2020 for Investor-Owned Utilities (IOUs).

The solar energy sector in the United States is beginning to gain significant momentum, largely due to advances being made in clean technology.

Free power from solar panels offset the high rate of electricity for commercial use and businesses were also able to claim accelerated depreciation (a method to increase deductions) on the equipment to lower their taxable income. Furthermore, Canadian. Solar is one of the most bankable companies in the world, having been publically listed on NASDAQ since 2006.

Solar module. Author: Oregon Department of Transportation. About Southern CompanyWith more than 4.5 million customers and approximately 46,000 megawatts of generating capacity, Atlanta-based Southern Company (NYSE: SO) is the premier energy company serving the Southeast through its subsidiaries.