Enbridge (ENB) To Purchase Solar Energy Project In Ontario From First Solar (FSLR)

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09:32:13 am on October 5, 2009

Enbridge and First Solar just announced that Enbridge will acquire a 20 MW solar energy project that First Solar is constructing near Sarnia, Ontario.  When the project is complete at the end of this year, it will be the largest PV solar energy plant in Canada, powering about 3,200 homes. Under the agreement, First Solar will continue to provide operations and maintenance services for the plant after construction is completed. 

In a press release, Bruce Sohn, First Solar’s President, commented on the news:

“Enbridge’s investment underscores the fact that large-scale solar photovoltaic power generation is becoming a reality. This agreement is the first that realizes the value of the OptiSolar project development pipeline that we acquired in April. First Solar’s project development and engineering, procurement and construction capabilities have enabled us to complete over 65 per cent of the 20 MW project in less than three months.”

Enbridge’s President and CEO, Patrick D. Daniel, called the acquistition a “further step” toward the company’s goal of becoming carbon neutral.

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I wish i had got some First Solar shares when I had the chance. Any tips on future shares?

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