First Solar (FSLR) In Multi Year Deal With Pfalzsolar

Posted by Tate Dwinnell | # |
08:17:10 am on May 29, 2009

Financial and term details aren’t available yet, but First Solar (FSLR) has announced this morning a multi year supply deal with German solar project developer Pfalzsolar.

“We are pleased to have gained Pfalzsolar as an additional customer in a key market at a key period for the evolution of solar electricity in Europe,” added John Carrington, executive vice president, global marketing & business development.

First Solar came under significant selling pressure a few days ago after the FBR downgrade, taking out an important short term resistance level in the process.  It’s recovered a bit and getting a small pop in premarket trading, but still looks weak to me in the short term and may need to fill the gap and test the 160ish level.  I took profits in FSLR around 180 after the downgrade, but will look to get back in if it does pull back to the 160 range.

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