First Solar, a company that produces solar modules by utilizing sophisticated semiconductor technology and KGAL, a company that provides sound investing solutions to make capital investments, have declared the sale of a 9.5 MW solar DC power plant located close to Zamora, Spain to European Solar Power Fund.
The clean energy related fund was managed by KGAL and it has bought the solar plant from First Solar.
The solar plant currently being constructed by Gehrlicher Solar España is anticipated to be completed in December 2011. The solar farm coming up in an area of over 37.6 ha will generate approximately 15,000 MWh of clean renewable energy every year. The power generated by the solar farm will meet the annual power requirements of approximately 3,400 households in Spain and offset nearly 5,600 t of carbon dioxide emissions every year.
The solar farm is placed in Pereruela, a province of Zamora, Spain and lies around 250 km northwest of Madrid. The area is considered to be among the sunniest locations in Europe and gets nearly 1,700 kWh/m2 of sunlight annually. The solar farm will incorporate 122,000 numbers of the FS Series 3 thin film solar modules.
The financial terms of the accord are not known and First Solar has assisted in organizing third-party financing for the project.
Source: http://www.firstsolar.com/