The company’s new utility systems business group comes as it prepares to integrate the substantial portfolio of NextLight Renewable Power, which First Solar is acquiring in a $285m deal that brings its development pipeline to 2.2GW of North American projects with signed power purchase agreements. The acquisition is on track to close this quarter.
Jens Meyerhoff, currently chief financial officer, will lead the new group, tasked with ensuring “an integrated, portfolio-based approach to project economics—from site selection and project development through to transmission access, power purchase agreement and project asset sale”, says chief executive Rob Gillette.
First Solar’s US utility business model is to offer engineering, procurement and construction services and project development capabilities – in addition to modules – to utilities,...
