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First Solar selling solar farm in Spain

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Posted: Thursday, July 28, 2011 4:30 pm

First Solar Inc. said Monday it sold a solar farm being built in Spain to a renewable energy fund in Europe. Terms of the deal were not disclosed.

Tempe-based First Solar said the 9.9 megawatt solar plant is located near Zamora, Spain, about 155 miles northwest of Madrid. It was bought by the European Solar Power Fund, a fund for institutional investors that's managed by KGAL GmbH & Co. KG.

The solar farm is expected to be completed in December.

First Solar manufactures solar modules and provides comprehensive photovoltaic system solutions. Its shares fell 79 cents to $123.33 in morning trading Monday.

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