First Solar (FSLR) Buys 15MW Solar Plant, Will Flip It To Enbridge

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07:11:06 pm on February 1, 2011

First Solar (FSLR) bought the 15MW Amhersburg II Solar Plant from Helios Energy today, then agreed to sell it to Enbridge Inc for an undisclosed sum.  FSLR will continue developing the uncompleted plant and provide EPC services as well as maintenance under a long term contract.  The solar power will eventually be sold to the Ontario Power Authority under a 20 year power purchase agreement.

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"Amherstburg II will continue to expand Ontario’s supply of clean, affordable, sustainable solar energy," said Peter Carrie, First Solar Vice President of Business Development for Canada. "We are pleased to have worked with Helios Energy and look forward to bringing the project to completion this summer."

Shares of FSLR were up a couple percent today and remain in breakout mode as the strong uptrend that began at the beginning of the year remains in place.

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