After reducing production and costs and closing a big solar panel factory, First Solar says it’s done a better job of managing its supply and has sold out of its production through nearly the end of the third quarter of this year.
First Solar’s stock is smoking hot on Tuesday, soaring almost 50 percent to reach almost $40 per share. That’s quite a turn around for the solar thin film leader who had such a difficult year in 2012.
First Solar is looking to double down on building solar projects, not just be a panel supplier, in India in the wake of the wide sweeping grid blackouts of the Summer.
Research firm Lux Research has named the top ten global makers of solar modules — which make up solar panels — by production for 2011.
Warren Buffet’s power company, MidAmerican Energy Holdings, is jumping into solar power and plans to buy up a massive solar farm from First Solar. The planned 550 MW solar panel farm called Topaz is in San Luis Obispo County in central California.
It’s been a rocky couple of months for solar companies, but First Solar just hit an unexpected hurdle. The thin-film solar darling announced that Rob Gillette will no longer serve as its CEO, and Chairman and Founder Mike Ahearn will step in as interim CEO.
So-called “third-generation” ultra-thin film solar company Solexant has amassed another $23.47 million in equity from investors, according to a filing, and at the same time has reportedly abandoned a $25 million loan from the state of Oregon.
After the great market sell-off yesterday, stocks are rebounding slightly on Tuesday, including many of the greentech stocks that took a beating yesterday. But most of them are only up slightly. Here’s the latest:
Tech stocks took a beating on Monday morning, the first day of trading after Standard & Poor downgraded the credit ratings of credit agencies. At the same time, greentech stocks — from solar to biofuels to smart grid — fell alongside the weak macro economic news.
Sempra Generation will join the pantheon of solar power plant developers who’ve gotten government aid. The U.S. Department of Energy on Wednesday announced an offer for a $359.1 million loan guarantee to Sempra to build a 150 MW project in Arizona.