Abound, a small, privately held US start-up, is taking on industry giant First Solar. What’s more, they think they can win. Like First Solar, Abound makes cadmium telluride solar panels. First Solar has managed to reduce the cost of its solar power to 98 cents per watt. According to Reuters, Abound thinks it can do better:
We think we have a slight technological advantage over First Solar," Chief Executive Pascal Noronha said in an interview. … Read the rest
First Solar just finished gobbling up OptiSolar’s PV project pipeline on Friday. The company plans to take the projects in the pipeline, build them and then sell them.
Renewable-Energy-Sources.com has the details of the deal:
First Solar acquired all of OptiSolar’s project development business in an all-stock transaction valued at approximately $400 million. As a result of the closing today, First Solar will issue approximately 3 million shares of common stock representing a dilution of … Read the rest
In an article released this morning entitled "Nightfall Comes To Solar Land," Bill Alpert of Barron’s predicts that the massive drop in silicon prices over the past year, combined with cooling demand for solar energy, will have a negative impact on the solar industry in general, particularly thin-film manufacturers like First Solar (FSLR) and Energy Conversion Devices (ENER). These two companies based their business models on a market in which there was not enough … Read the rest
According to StreetInsider.com, Collins Stewart is downgrading FSLR this morning to Hold from Buy. It’s basically a valuation call after a big run in the stock. They said…
“Due to the price increase seen in recent sessions, FSLR has reached a point where we find the risk/reward more balanced for investors. With yesterday’s rally, the shares are now within 16% of our $175 price target and trading at 22.5x our FY09 EPS forecast of … Read the rest
First Solar just announced that it will work with Tri-State Generation and Transmission Association to build a 30-MW solar power plant in Colfax County in northeastern New Mexico. The 5,000 solar modules will produce enough energy to power approximately 9,000 houses, and the plant is expected to be online by the end of next year. Tri-State Generation and Transmission Association has entered a 25-year purchase agreement for power to be produced at the plant, which … Read the rest
After more than 6 six years, First Solar (FSLR) has produced a total of 1GW of its thin film solar modules with 500MW of that being produced in just the past 8 months. The company announced it will soon have the capacity to produce more than 1GW every year which is the equivalent of an averaged sized nuclear plant. A remarkable achievement for a company still in its infancy but emerging as a clear leader … Read the rest
First Solar (FSLR) announced after the bell today that it will acquire all of OptiSolar’s project development business in an all stock transaction valued at approximately $400 million. The acquisition is expected to be completed in the 2nd quarter and includes:
– 550MW AC solar development project under a power purchase agreement with PG&E
– A project pipeline of an additional 1300MW AC that’s in negotiation with Western regional utilities
– Land rights of about … Read the rest
First Solar (FSLR) and GT Solar (SOLR) are what I’d call solar opposites, technically speaking. One appears headed for a retest of the lows while the other appears ready to break out and continue moving higher.
First Solar (FSLR) reported great earnings last night but it was their cautious outlook that sent the stock into the cellar today. I really thought that it would recover quickly off the morning gap down, but it just couldn’t … Read the rest
Hat tip to Street Insider for the following analyst comments on FSLR following earnings:
Citi: 09 guidance cut due primarily to decision to vendor finance a portion of 09 shipments. Citi is concerned about compressing margins and increasing inventories. Maintains Hold rating but is cutting estimates and price target goes from 170 to 160
Deutsche Bank: believes FSLR may still be best positioned solar company but is cautious due to customer, industry and macro … Read the rest
A major milestone amidst the solar doom and gloom…
Despite bleak estimates for the next few quarters, there are reasons to remain very optimistic on FSLR. The company announced it broke the $1/watt barrier today saying that it has produced a solar cell with a cost of .98/watt and expects to meet its target of producing cells with a cost of .65 – .75 watt by 2012 which would be in line with traditional energy … Read the rest