First Solar Buys NextLight Renewable Power

Tempe, Arizona-based First Solar said Monday that it has acquired NextLight Renewable Power, a solar development firm owned by private equity firm Energy Capital Partners. The deal was worth $297M in cash. First Solar said that the buy now gives it 2.2 gigawatts worth of power purchase agreements for utility-scale, solar projects in North America. As part of the acquisition, First Solar said NextLight's project developers and other staff have joined the firm.