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First Solar project misses DoE deadline

First Solar Inc's 550 MW Topaz Solar Farm project will not meet the deadline to receive a Federal loan guarantee from the US Department of Energy (DoE) – First Solar wishes to sell the project.

By Kari Williamson

Although the solar farm in San Luis Obispo County, CA, meets the standards for inclusion in the loan guarantee programme and received a conditional commitment in June, First Solar says there was insufficient time to process all requirements before the 30 September deadline.

First Solar is now in “advanced talks” for the sale and financing of the solar project with potential buyers using a different transaction structure not requiring a DoE loan guarantee.

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