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Covington Advises OptiSolar on $400M Sale of Project Development Business

4/10/2009

NEW YORK, NY, April 10, 2009 — First Solar, Inc. has announced the completion of its previously announced acquisition of OptiSolar’s project development business. Covington & Burling LLP advised OptiSolar on the deal.

OptiSolar is a California-based independent power producer committed to delivering clean, competitively priced electricity to the power grid from its large-scale solar farms, using its proprietary thin-film photovoltaic (PV) panels. First Solar manufactures solar modules with an advanced semiconductor technology and provides comprehensive PV solutions that significantly reduce solar electricity costs.

The Covington corporate team was led by partners Bill Collins and Jack Bodner and included partner Carey Roberts and associates Jonas Marson, Jonathan Jacobs, Michelle Garcia, Sam Headon*, Maia Ridberg and Russell Valdez. Partner Robert Heller and associate Rucia Pei also advised on tax matters. All are resident in Covington’s New York office.  Team members based in Washington include partner Bill Massey and of counsel Bob Fleishman (FERC matters), partner Mike Francese and associate Mary Deyoung (employee benefits), and partner Lee Tiedrich and special counsel Marie Lavalleye (IP). 

*Not yet admitted to practice.

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