NextEra Energy Resources to Purchase Canadian Solar Projects from First Solar (40 MW)

NextEra Energy Resources, LLC, the competitive energy subsidiary of NextEra Energy, Inc. (NYSE:NEE) and First Solar, Inc. (Nasdaq:FSLR) announced they have entered into agreements for NextEra Energy Resources to purchase four solar photovoltaic (PV) projects totaling 40 megawatts (MW) in Ontario, Canada from First Solar, Inc.

“We’re pleased to expand our position as North America’s leading generator of solar power through the addition of our first Canadian solar projects”

Under the terms of the project agreements, First Solar will continue developing and will construct the Sombra and Moore Solar Energy Centers, using First Solar’s advanced thin film solar modules. Each Solar Energy Center will consist of two 10-MW solar PV projects. Once operational, NextEra Energy Resources’ Canadian subsidiary, NextEra Energy Canada, will own and operate all four projects. All of the power from the solar projects will be sold to the Ontario Power Authority under long-term contracts.

“We’re pleased to expand our position as North America’s leading generator of solar power through the addition of our first Canadian solar projects,” said NextEra Energy Resources’ President and CEO Mitch Davidson. “Solar power will help promote a clean-energy economy in Ontario, reduce its dependence on fossil fuels, and address global climate change through the production of emission-free energy.”

“We’re pleased to forge this new customer relationship with NextEra Energy Resources, a company that shares our strong commitment to developing renewable energy in North America,” said Frank DeRosa, First Solar senior vice president of North American project development. “Together we look forward to bringing these projects online in 2011 and contributing to Canada’s clean energy needs.”

The Sombra and Moore Solar Energy Centers, located in Sombra and Moore Townships, Ontario, will each utilize thin film technology on a fixed tilt system. Each 10-MW project will consist of more than 172,000 panels. The Sombra and Moore Solar Energy Centers will provide enough power to serve about 6,440 homes. Each year the solar projects are expected to help avoid nearly 45,000 tons of carbon dioxide, which is the equivalent of removing nearly 8,600 cars from the road every year for the life of the project.

Pending the necessary government approvals, construction on all four projects is expected to begin in the first quarter 2011 with commercial operation expected by the end of 2011.

NextEra Energy Resources, LLC is a clean energy leader and one of the largest competitive energy suppliers in North America. A subsidiary of Juno Beach, Fla.-based NextEra Energy, Inc. (NYSE: NEE), NextEra Energy Resources is the largest generator in North America of renewable energy from the wind energy and sun. It operates clean, emissions-free nuclear power generation facilities in New Hampshire, Iowa and Wisconsin as part of the NextEra Energy nuclear fleet, which is the third largest in the United States. NextEra Energy had 2009 revenues of more than $15 billion, nearly 43,000 megawatts of generating capacity, and more than 15,000 employees in 28 states and Canada.

First Solar manufactures solar modules with an advanced semiconductor technology and provides comprehensive photovoltaic (PV) system solutions. The company is delivering an economically viable alternative to fossil-fuel generation today. From raw material sourcing through end-of-life collection and recycling, First Solar is focused on creating cost-effective, renewable energy solutions that protect and enhance the environment.