* To buy facilities totaling 50 MW
* Plutonic to contribute about C$6 mln
* Expected to create 600 construction jobs
Jan 5 Clean power company Plutonic Power Corp
(PCC.TO) and GE (GE.N) unit GE Energy Financial Services agreed
to acquire a 50-megawatt portfolio of three photovoltaic solar
facilities from First Solar Inc (FSLR.O).
Plutonic will contribute about C$6 million ($6.04 million)
and serve as the managing partner for the projects, to be built
in Ontario. The facilities' construction is expected to begin
First Solar will arrange debt for the project on behalf of
Plutonic and GE Energy Financial Services.
The projects, which are expected to create more than 600
construction jobs, will sell their power to the Ontario Power
Authority under 20-year energy purchase agreements.
Shares of Vancouver, British Columbia-based Plutonic Power
were up 10 percent at C$2.39 in afternoon trading on the
Toronto Stock Exchange. First Solar shares were trading flat at
$131.50 on Nasdaq.
($1=.9942 Canadian Dollar)
(Reporting by Vaishnavi Bala in Bangalore; Editing by Maju