SHANGHAI, Nov 3 (Reuters) - First Solar Inc (FSLR.O) has received China’s approval to start preperatory work on a 30-megawatt (MW) photovoltaic project in Inner Mongolia, the 21st Century Business Herald reported on Wednesday, citing unnamed sources.
But First Solar would still have to submit a feasibility study for the project to the National Development and Reform Commission, the newspaper said.
In August, local media reported that construction of the project would not begin until 2011. [ID:nTOE67N00F]
First Solar, the largest operator in the sector with a market value of $11.7 billion, produces modules that use cadmium telluride to produce electricity from sunlight, rather than polysilicon.
The U.S. company has said it expects its Chinese plant to eventually have a production capacity of 2 gigawatts in four stages, with total investment expected to reach $4-6 billion by 2019. (Reporting by Ruby Lian and Soo Ai Peng, Editing by Chris Lewis)