First Solar purchases power project in Calif.


TEMPE, Ariz. — First Solar Inc. said Monday that it has purchased a 150-megawatt power project in Southern California for an undisclosed price.

Construction is expected to start this year and finish in 2014. The Tempe company, which got its start in Toledo, said the plant could generate enough electricity to power more than 60,000 average California homes.

First Solar, one of the largest solar panel manufacturers in the world, also develops and builds large solar farms that generate electricity sold to utilities.