First Solar Inc. (Nasdaq: FSLR) is buying a solar project from K Road Power Holdings LLC for an undisclosed amount.
The project, called Moapa Solar Project, is a 250 megawatt photovoltaic project in Nevada. The project is in advanced stages of development and has a 25-year power purchase agreement with the Los Angeles Department of Water and Power.
Once the project is running, it should generate enough power for 100,000 homes, according to a statement.
First Solar, headquartered in New York, bought TetraSun, a company that makes technology for solar panels, in April.
Other recent solar deals include ABB’s (NYSE: ABB) acquisition of Power-One, a solar energy company, and Hanergy Holding Group Ltd.’s deal for Global Solar Inc.
K Road Power, based in New York and San Francisco, is a power company that develops, finances and operates utility-scale solar projects.