UPDATE 1-First Solar buys Edison Mission solar projects

* Buys solar project pipeline from Edison Mission Group

* Says projects range from 20 MW to 150 MW

* Stock up slightly in early trade

NEW YORK, Jan 14 (Reuters) - First Solar Inc (FSLR.O) said on Thursday it had acquired a portion of Edison Mission Group's solar project development pipeline in California and the Southwest.

The projects of the Edison International (EIX.N) unit acquired by First Solar range from 20 to 150 megawatts, are sited largely on private land and are not yet contracted with utilities.

Financial terms of the deal were not disclosed.

First Solar, the lowest-cost solar module maker in the world, said it had included the anticipated demand for the Edison Mission projects in its forecasts to investors in December.

Shares in First Solar, which had fallen 5 percent over the previous three days, were up 0.9 percent to $133.25 per share in early trade on the Nasdaq. (Reporting by Matt Daily, editing by Gerald E. McCormick)