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First Solar to acquire NextLight for $245M

Solar-panel manufacturer First Solar announced Wednesday it has signed a definitive agreement to purchase solar-project developer NextLight Renewable Power for approximately $285 million.

Subject to acquisition closing adjustments, the deal is to be all-cash and completed in third quarter. NextLight has a total of 570 megawatts worth of solar projects under way, with an additional 530 megawatts in various development stages, according to First Solar.

[CNET News]