First Solar (FSLR) Gets Go Ahead For 230MW AV Solar Ranch Project

It was announced yesterday that First Solar (FSLR) has cleared the last of the red tape needed to get the big 230MW AV Solar Ranch project in LA County off the ground.  If you’re a regular reader here, you might remember that back in October there were fears that this project would be delayed until 2012 due to an appeal by Northrop Grumman which was concerned the project would disturb their secret testing facility in the area.  Axiom has been the most bearish on FSLR and said the appeal may provide a template for anyone wanting to block a large solar project in California.  I commented that California will rectify the situation quickly and that the state will do everything in its power to remain the green energy top dog.  Yesterday’s news proves the point and this project is expected to break ground this year and be completed by 2013.

With an MOU signed for the big China Ordos project and news that AV Solar will finally get off the ground, the pieces are beginning to fall into place for FSLR.  The question is will the stock follow suit?  FSLR has been stuck in a base now for more than two years.  The key for me is right around that 155 level where the stock failed twice last year.  A clean break above that level could signal a sustained run in FSLR for the first time in a long time.

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