Currently, MN8 Energy owns and operates a 3.2GW photo voltaic portfolio within the US. First Solar has beforehand transacted with MN8 Energy, because the latter bought a 123MW photo voltaic PV challenge in California in 2020.
MN8 Energy was based inside Goldman Sachs Asset Management as Goldman Sachs Renewable Power in 2017. In 2022, it grew to become a separate, independently owned firm known as MN8 Energy, and about 100 workers moved to the brand new entity.
Prior to this settlement, First Solar additionally signed an settlement with renewable power firm Birch Creek Energy to provide 547MW of modules. Under the settlement, First Solar will present its Series 6 Plus bifacial thin-film PV modules to St. Louis-based firm. Birch Creek Energy stated the modules might be deployed in its improvement pipeline within the US.
Last month, MN8 Energy secured a non-public placement of US$325 million by promoting convertible most popular inventory to 2 funding companies. A complete of US$200 million funding from Mercuria Energy Group whereas the remaining US$125 million from Ridgewood Infrastructure. Mercuria will get a board seat in addition to an observer seat on the MN8 board, whereas the Ridgewood could have an observer seat.
NASDAQ-listed First Solar is because of launch its first quarter 2024 monetary outcomes as we speak (1 May) after markets shut.
