First Solar (FSLR) announced a deal today that will help expand its presence in China by partnering with China Power International.  The two companies will not only collaborate on projects in China but in other markets as well, such as the US.

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“First Solar is very pleased to be expanding our commercial presence in China by establishing this relationship with CPINE, one of the premier clean energy state-owned companies in China and a leader in clean energy development,” said Kallenbach. “Both China and the U.S. are important markets with vast potential for sustainable solar energy, and this agreement can serve as a model for U.S.-China collaboration on renewable energy. Our agreement with CPINE also includes the potential to expand to other international markets, which could open up tremendous opportunities.”

Shares of FSLR didn’t move up on the positive news today, likely overshadowed by a statement they made (along with Suntech Power) indicating a potential big drop off in solar demand due to subsidy cuts in Europe.