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First Solar, Juwi to Co-Develop 53MW Project in GermanyFirst Solar and Juwi Holding plan to co-develop a 53-megawatt power plantin Germany and has lined up financing to do it.As usual, the companies didn’t disclose the cost of the developing the power  plant, except to say that they have been able to borrow 80 percent of thecapital from a group of banks. Tempe, Ariz.-based First Solar, which makescadmium-telluride panels, said the plan is to sell a majority stake after the project is completed.At 53 megawatts, the project also would be one of the world’s largest power  plants that is built with solar panels.The companies said they would install 700,000 solar panels on 162 hectaresthat were part of an old Soviet Army’s base north of the city of Cottbus ineastern Germany. Construction began in January this year, and thecompanies said they already have completed the first 15 megawatts. Theyexpect to finish the rest of the project by the end of this year.The project reflects the aggressive approach First Solar is taking in power  project development business, and in boosting demand for its solar panels ata time when the weak economy is making it difficult for some of FirstSolar’s panel customers to find financing for developing projects.Juwi is a power project developer in Germany, and has built and operatedsolar, wind and biomass power plants.Last week, First Solar said it snagged a contract to build a 48-megawatt solar energy farm for Sempra Energy, which plans to sell power to a utility. FirstSolar also recently spent $400 million buying gigawatts worth of unfinished projects from OptiSolar.
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