Energy and Power
First Solar: Too Volatile For Your Portfolio?
First Solar’s (FSLR) business path has not been smooth, and that is why the company recently changed its business direction. First Solar will now focus on providing utility-scale PV systems in sustainable markets with immediate need. This shift in the company’s strategy also means it will reduce its focus on the rooftop and off-grid market and focus primarily on serving the utility market instead. This is a major change of strategy for a company that had previously focused on customers that were dependent on government subsidies.
Recent First Solar Developments
On September 11th, First Solar announced that it had signed a deal with Pacific Gas and Electric Company to provide 72 megawatts of solar electricity, which would be generated at two plants that are being developed in California. One project is a 32 megawatt project in Kern County, and the second project is the Cuyama project in Santa Barbara County. Construction of the projects, which will produce enough energy to power some 24,000 California homes, could start in 2013.
On September 10th, First Solar announced that its Agua Caliente solar plant had achieved a peak generating capacity of 250 megawatts. “The project, which is under construction in Yuma County, Arizona, is currently the world’s largest operating photovoltaic (PV) power plant and will have a generating capacity of 290 MWAC when completed.” First Solar will operate the plant for owners NRG Energy and Mid America Solar. Pacific Gas and Electric has a 25 year purchase agreement for the plant’s electrical output. To continue reading, click here.