First Solar (FSLR) Reaches the 1GW Solar Energy Milestone

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09:55:00 am on March 20, 2009

After more than 6 six years, First Solar (FSLR) has produced a total of 1GW of its thin film solar modules with 500MW of that being produced in just the past 8 months.  The company announced it will soon have the capacity to produce more than 1GW every year which is the equivalent of an averaged sized nuclear plant.  A remarkable achievement for a company still in its infancy but emerging as a clear leader in the solar industry.  First Solar runs 3 manufacturing lines in the US, Germany & Malaysia with offices throughout the US and Europe, employing more than 4000.

“This volume allows us to rapidly reduce manufacturing costs, thereby furthering our mission of making solar power an affordable alternative to conventional energy sources,” said Bruce Sohn, First Solar president. “We appreciate the many contributions our associates have made in reaching this 1GW milestone and are grateful for all their hard work.”

FSLR is trading up just a bit this morning and still looks technically weak in the short term.  I’m still expecting a pull back to the 85 – 100 range in the coming weeks.  That may just offer a fantastic long term opportunity.

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