First Solar has been chosen to supply Masdar Abu Dhabi Future Energy Co. with solar modules to help power Masdar City. First Solar will supply 5 megawatts worth of solar modules, which will be integrated into the Middle East’s largest grid-connected PV system.

According to Forbes.com:

The system will provide energy for Masdar City, which strives to be the world’s first carbon-neutral, zero waste, car-free city powered entirely by renewable energy sources. Construction has begun, and the system is expected to be producing power by the end of the second quarter of 2009.

Shares of First Solar rose $9.20, or 6.9 percent, to close at $142.58 on Thursday. The 52-week share price range is between $85.28 and $317.