Enbridge Inc. (TSX:ENB) (NYSE:ENB) and First Solar,
Inc. (NASDAQ:FSLR) announced today that Enbridge has acquired a 100 per cent
interest in the 50-megawatt (MW) Silver State North photovoltaic (PV) project
that First Solar has developed and constructed in Clark County, Nevada, near
the community of Primm. Terms of the transaction were not disclosed.
"Silver State North marks Enbridge's entry into
the U.S. solar energy market and demonstrates Enbridge's continuing commitment
to growing its green energy business, while delivering attractive returns and
stable cash flows," said Don Thompson, Vice President, Green Energy,
Enbridge Inc. "The U.S. solar market presents significant growth
opportunities given the excellent solar resource, supportive regulatory
environment and expanding portfolio of solar energy projects."
Located 40 miles south of
Las Vegas
,
Nevada
,
Silver State North was constructed under a fixed-price engineering, procurement
and construction (EPC) agreement with First Solar, and is expected to begin
commercial operation by May 2012. First Solar will provide operations and maintenance
services to Enbridge under a long-term contract. NV Energy will purchase the
energy output under a 25-year power purchase agreement (PPA) approved in 2010
by the Public Utilities Commission of Nevada.
"
Silver
State
North is a premier utility-scale PV solar facility," continued Mr.
Thompson. "We have been impressed with First Solar's strong technical
competence and attention to meaningful community engagement practices that
align with Enbridge's values."
"First Solar is very pleased to expand its
relationship with Enbridge, a leader in renewable energy that shares our
commitment to sustainability," said Frank De Rosa, First Solar Senior Vice
President for Business Development, the
Americas
.
"We are very proud to have completed construction of the first
utility-scale PV solar project on Bureau of Land Management (BLM) land in
Nevada
,
which would not have been possible without the hard work and dedication of
county, state and BLM officials."
Silver State North, which will use First Solar's
advanced thin film PV modules, will generate enough clean solar energy to serve
the needs of about 9,000 average Nevada homes per year, displacing about 42,000
metric tonnes of carbon dioxide (CO2) annually - the equivalent of taking about
8,000 cars off the road. The project will also contribute to helping Enbridge
meet its Neutral Footprint commitment to generate a kilowatt of renewable
energy for every kilowatt of conventional electricity that the company's
operations consume.
The project complements Enbridge's growing portfolio
of renewable and alternative energy technologies that now includes interests in
eight wind farms, four solar projects, a hybrid fuel cell and four waste heat
recovery facilities. Together, Enbridge's investments in renewable energy have the
capacity to produce almost 1,000 MW of renewable energy.
First Solar will recognize revenue from Silver State
North after final testing and commissioning, expected in the second quarter of
2012.
Silver
State
North Solar Project at a glance:
Location:
Clark County
,
Nevada
,
near the community of Primm
Net
Peak
Capacity: 50 MW (AC)
Project Area: About 600 acres (on Bureau of Land
Management lands)
Approximate number of solar modules: Over 800,000
Annual yield: 122,000 MWh (corresponding to the annual
consumption of about 9,000 homes)
Energy Purchaser: NV Energy (25-year PPA)
CO2 saving: 42,000 metric tonnes per year (the
equivalent of taking about 8,000 cars off the road)
Estimated
peak work force: About 300 people during construction