First Solar Acquires NextLight

Tempe, Arizona-based solar module manufacturer First Solar said today that it is in a definitive agreement to acquire NextLight Renewable Power, a San Francisco-based developer of utility scale solar projects. First Solar said it would pay approximately $285M in cash for NextLight. As part of the acquisition, First Solar said it will acquire approximately 1,100 megawatts in a solar project pipeline, expanding the scope and diversity of its existing power project pipeline.