First Solar just announced that they have acquired some of Edison Mission Group’s planned solar power projects. According to Reuters, the projects, which are located in the Southwest and California, range from 20MW to 150MW, and are located on private land.The companies are keeping the financial details of the acquisition private, and utilities have not yet signed agreements to purchase the power that will be produced by the projects. This acquisition has been in the … Read the rest
Tag Archives: first solar
First Solar (FSLR), EDF In Talks With Blanquefort, France Regarding New Solar Manufacturing Plant
First Solar and EDF Energies Nouvelles just announced that they are in the end stages of talks with the French town of Blanquefort regarding the construction of a new solar panel manufacturing facility. The two companies plan to finance the plant together, then First Solar will manage the plant operations and sell the solar panels produced to EDF for 10 years. When it’s finished in 2012, the plant will produce more than 100 MW worth … Read the rest
California Approves Deal Between P G & E (PCG) First Solar (FSLR) And Sempra Energy (SRE)
California regulators have given the go-ahead for a deal that will allow P G & E to buy power from the 48 MW solar power project that First Solar and Sempra Energy are building together near Boulder City, Nevada. Now that everything has been approved, construction should start next month and the facility should be completed late next year. It will be an add-on to a 10 MW plant previously built by First Solar and … Read the rest
Analysts React To First Solar (FSLR) Guidance: Most Cautious, But Hold Ratings
The StreetInsider.com has a great run down of analyst reactions to First Solar’s (FSLR) guidance last night. The company guided higher and announced significant expansion plans over the next two years. The following is reprinted with permission.
Piper Jaffray: “While strong 2010 top-line guidance and newly announced capacity expansion are positives, a substantially higher mix of lower margin systems business is expected to prevent both margin and EPS expansion in 2010. FSLR remains the … Read the rest
First Solar (FSLR) Guides 2010 Revenues Above Street, Capacity To Expand 50%
After the bell today First Solar (FSLR) issued guidance for next year with revenues expected to come in between $2.7 – $2.9 billion and EPS between $6.05 – $6.85/share. The Street was expecting $2.4 billion in revenues and a $6.55/share EPS, so about in line on the EPS side but more optimistic on the revenue side. The company plans to invest $365 million in two production plants in Malaysia (again, so much for green energy … Read the rest
First Solar (FSLR) Becomes 1st Solar Company To Hit 1GW Production Benchmark In A Year
First Solar just announced that it has become the first solar PV company to increase its production over to 1 GW of PV modules in a single year. That means that this year, First Solar produced and shipped enough solar modules to provide power to 145,000 homes.
In a company press release announcing the achievement, First Solar’s president Bruce Sohn explained why hitting 1 GW production is important:
“This proof that the solar industry can … Read the rest
Analysts Weigh In On First Solar (FSLR) Ahead Of 2010 Guidance Webcast
First Solar (FSLR) will issue 2010 guidance in a webcast on Wednesday and analysts are weighing in ahead of the event.
Hat tip to StreetInsider for following the analyst comment from Pacific Crest:
Mark Bachman at Pacific Crest really went out on a limb and said the meeting should have one of two results – “up or down.” He said 2010 capex and 2011 EPS are the key metrics at the event. Long-term investors will … Read the rest
First Solar (FSLR), Enbridge (ENB) To Quadruple Size Of Sarnia Solar Project
Enbridge (ENB) and First Solar (FSLR) announced today an agreement to expand the Sarnia Solar Project from 20MW of capacity to 80MW, which when completed late next year, will make Sarnia the largest solar facility in N America. Enbridge already acquired the first 20MW which went into commercial operation yesterday.
First Solar (FSLR) will provide operation and maintenance services to Enbridge under a long term contract with the output of the 80MW facility being sold … Read the rest
Collins Stewart Upgrades First Solar (FSLR) To Buy, $160 Price Target
Collins Stewart upgraded First Solar (FSLR) from Hold to Buy this morning and has a price target of $160.
Hat tip to StreetInsider.com for the following analyst comments:
The firm notes that its downgrade in March was “due to concerns that its CY10 EPS was at risk due to impending module price cuts and its significant valuation premium at the time.” With the Street’s estimates for next year coming down, in addition to a narrowing … Read the rest
Broadpoint Maintains First Solar (FSLR) Buy Rating But Lowers Price Target
This morning Broadpoint came out reiterating its Buy rating on First Solar (FSLR), but lowered the price target to $165 which is still well above the current price of $120
Hat tip to StreetInsider.com for the following analyst comment
“Following updated cost reduction guidance from poly-based module producers last week, we are reducing our FSLR 2010 estimates to better reflect a more competitive landscape in 2H10 (namely TSL projecting $0.70/w processing cost). We still view … Read the rest