THIN FILM CO SELLS OFF ASSETS

NextEra unit to buy First Solar Canada projects
Nicole Mordant, December 6, 2010 (Reuters)

"NextEra Energy Resources has agreed to buy four small solar photovoltaic projects located in the Canadian province of Ontario from First Solar Inc…No price was given for the purchase, which totals 40 megawatts of energy, or enough to power about 6,440 homes.

"First Solar will continue developing the Sombra and Moore solar energy centers using its thin-film solar modules…"

Many consider the Ontario FiT rates excessive and a recipe for future trouble. The renewables world is watching the experiment. (click to enlarge)

"Construction is expected to begin in the first quarter of 2011 with commercial operation expected by year-end.

"All the power will be sold to the Ontario Power Authority utility under long-term contracts…Ontario, Canada's most populous province, last year unveiled a European-style feed-in tariff scheme for producers of renewable energy, the most comprehensive and lucrative set of incentives in North America."