First Solar, Inc. has announced that Apple has committed $848 million for clean energy from First Solar's California Flats Solar Project in Monterey County, Calif. Under the terms of the deal, Apple will receive electricity from 130 MW of the solar project under a 25-year power purchase agreement. The deal, according to First Solar, represents the largest agreement to provide clean energy to a commercial end user.
"Apple is leading the way in addressing climate change by showing how large companies can serve their operations with 100 per cent clean, renewable energy," said
Joe Kishkill, chief commercial officer for
First Solar. "Apple's commitment was instrumental in making this project possible and will significantly increase the supply of solar power in
California. Over time, the renewable energy from California Flats will provide cost savings over alternative sources of energy as well as substantially lower environmental impact."
The 2,900-acre California Flats Solar Project occupies 3 per cent of a property owned by Hearst Corporation in Cholame, Calif. Construction is expected to begin in mid-2015, with completion expected by the end of 2016.
The output of the remaining 150MW of the project will be sold to Pacific Gas & Electric under a separate long-term PPA; the project is fully subscribed between the Apple and PG&E PPAs.
In January, the Monterey County Planning Commission unanimously approved the California Flats Solar Project, sending the project to the Monterey County Board of Supervisors, which will consider final approval of the project on February 10.
Building on its proven record of developing, building and operating utility-scale solar power plants,
First Solar has placed a strategic focus on directly providing large commercial and industrial customers with wholesale electricity through long-term agreements. This deal marks the first wholesale commercial and industrial PPA executed by
First Solar.