First Solar buys Edison solar projects in California and the Southwest

First Solar buys Edison solar projects

TEMPE, Ariz. — First Solar said Thursday it had acquired a portion of the solar projects under development by Edison Mission Group, a unit of the utility operator Edison International.

The company did not release financial details.

First Solar, the nation’s largest solar panel maker, said the acquisition will give it utility-scale solar projects in California and the Southwest.

It said EMG’s projects are located mainly on private land and have electrical output ranging from 20 megawatts to 150 megawatts, though they do not yet have utility contracts.

First Solar Inc. said it has provided engineering and construction services at the sites since 2008 and will now handle all development.

The company’s stock fell $5.82, or 4.4 percent, to $126.30 in afternoon trading.