Key Developments For First Solar, Inc.
First Solar, Inc. (FSLR.O) (Nasdaq)
First Solar, Inc. Sells California Solar Power Project To NRG
First Solar, Inc. announced the sale of the 21 megawatt (MW) AC solar energy project it has developed and constructed in Blythe, Calif., to NRG Energy, Inc. Construction began in September and is expected to be completed by year-end. Electricity from the plant will be sold to Southern California Edison under a 20-year power purchase agreement. First Solar will provide operations and maintenance services at Blythe under a long-term contract with NRG. Financial terms of the agreement were not disclosed.
First Solar, Inc. Announced Cooperation Framework Agreement With Chinese government
First Solar, Inc. announced a Cooperation Framework Agreement with the Chinese government that takes another critical step towards the realization of the world`s largest solar power plant in the autonomous region of Inner Mongolia, China. The Agreement between First Solar and Ordos spells out additional project details and local support that advance the development of the 2 gigawatt (GW) solar power plant and confirm the June 1, 2010, expected construction start date for the 30 megawatt (MW) Phase 1. First Solar and Ordos also agreed to establish two committees to ensure the successful execution of the project and to develop a new energy industry in Ordos. The 2GW First Solar project is to be built in multiple phases, beginning with the 30MW Phase 1. Phases 2, 3 and 4 are to be 100MW, 870MW, and 1,000MW, respectively. Phases 2 and 3 are to be completed by 2014 and Phase 4 is to be completed by 2019. The project is part of a planned 11.95GW New Energy Industry Demonstration Zone in Ordos City, Inner Mongolia. The New Energy Industry Demonstration Zone is expected to combine solar, wind, hydroelectric and biomass power sources to provide a steady supply of renewable energy to the region that includes the Chinese capital. The Cooperation Framework Agreement sets forth the agreement in principle of the parties concerning the project and related activities.
First Solar, Inc. Sees FY 2009 Revenue Guidance At High Of Prior Range
First Solar, Inc. updated fiscal 2009 guidance for revenue at the range of $1.975 to $2.025 billion, which is at the high end of the previously provided guidance range. According to Reuters Estimates, analysts on an average are expecting the Company to report revenue of $1.996 billion for the same period.
First Solar, Inc. Added To S&P 500 Index
First Solar, Inc. announced that the Company's common stock was added to the S&P 500 Index after the market closed on October 15, 2009.
First Solar, Inc. Secures Financing for 53 Megawatt Solar Power Plant in Germany
First Solar, Inc. and Juwi Holding AG today announced they have secured financing for a 53 megawatt (MW) DC photovoltaic (PV) power plant near the German city of Cottbus. More than 80% of the required project capital is financed through non-recourse debt from a consortium of banks.
