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8point3 Energy buys First Solar's stake in Stateline solar project for $329M

Published 11/14/2016, 04:57 PM
8point3 Energy buys First Solar's stake in Stateline solar project for $329M
  • 8point3 Energy Partners (NASDAQ:CAFD) agrees to acquire First Solar's (NASDAQ:FSLR) 34% stake in the 300 MW Stateline solar project in California for $329.5M.
  • Stateline, located in San Bernardino, began operations in August and is majority owned by Southern Co . (NYSE:SO); Southern California Edison is purchasing the power generated by the project under a 20-year power purchase agreement.
  • CAFD expects the project to generate ~$32M in average annual pre-tax cash distributions and has a 20-year contract life.

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