First Solar Inc. says Goldman Sachs Renewable Power LLC (GSRP), a private company managed by the Renewable Power Group of Goldman Sachs Asset Management (GSAM), has acquired the 123 MW AC American Kings Solar project.
Located in Kings County, Calif., the project is backed by a 15-year power purchase agreement (PPA) with Southern California Edison and is scheduled to be commissioned in the fourth quarter.
“We are excited to partner with First Solar and M&T Bank in acquiring the American Kings Solar project. This is a bankable power plant backed by a long-term PPA, that is responsibly developed, and will generate the lowest carbon electricity possible today,” says Greg Roer, vice president of the GSAM Renewable Power Group.
“We believe that this facility will have a positive impact on the environment and the community by directly displacing carbon emissions. We look forward to adding it to our growing portfolio in the U.S.,” he adds.
Photo: American Kings will be powered by First Solar’s Series 6 PV modules