although this deal have been in the works for a while, expect solar and wind to capitalize on the negative
First Solar Plans To Build $300 Million Plant To Double US Output Capacity
djones
DOW JONES NEWSWIRES
First Solar Inc. (FSLR) said Thursday it plans to build a $300 million
manufacturing center in Arizona that would roughly double the solar-panel
maker's U.S. production capacity.
The company said the facility, when functioning at capacity, could produce
more than 250 megawatts of advanced thin-film photovoltaic modules a year.
The new factory follows First Solar's recent expansion at an Ohio plant and
would bring its U.S. production capacity to more than 500 megawatts a year.
Construction, expected to last a year, will begin in the second quarter. It
will create about 400 to 500 construction jobs and about 600 jobs when
operational.
The site for the facility is a former General Motors Co. (GM) vehicle testing
facility in Mesa, Ariz., and near First Solar's corporate headquarters in Tempe.
In its most recent quarterly results, First Solar's higher output and lower
module costs offset pressure from lower prices and higher expenses. The bottom
line beat analysts' expectations, and the company raised its guidance for
earnings this year.
First Solar shares were up 0.4% at $155.73 in recent trading. The stock has
risen 36% over the past 12 months.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; joan.solsman@
