Five of First Solar’s senior executives, using personal funds, purchased a combined total of 5,500 shares of the company stock during one of four annual open trading windows for the company’s directors and Section 16 officers. The purchases have been reported to the Securities and Exchange Commission in Form 4 filings where appropriate.
One of the prime movers in First Solar’s rapid transformation into a leading vertically integrated PV company is moving on. Jens Meyerhoff, current president of the utility systems business group and former CFO, will be leaving the firm effective Sept. 30.
US Secretary of the Interior Ken Salazar has greenlighted the Desert Sunlight Solar Farm, a 550MW (AC) solar power project to be developed, built, and operated by First Solar on 4100 acres of public lands in the California desert outside Joshua Tree National Park. Construction on the site could begin within days.
Commercial operation has begun at California’s largest solar power project after NRG Solar and Eurus Energy America activated their 45MW Avenal Solar Generating Facility in Kings County. The facility was developed by Eurus and the electricity produced will be sold to Pacific Gas & Electric (PG&E) under separate 20-year power purchase agreements.
The continued construction and eventual interconnection of what will be the world’s largest solar PV power plant now seems assured. The US Department of Energy’s Loan Programs Office has finalized a $967 million loan guarantee for the 290MW (AC) Agua Caliente solar project in Arizona, thus triggering the purchase close of the project by NRG Energy from First Solar. The plant could start generating electricity for PG&E as early as the end of this year.
(UPDATED) First Solar has reported second-quarter 2011 net sales of US$533 million in the quarter, a decrease of US$34.5 million from the first quarter, which were a decrease of US$42.5 million from the fourth quarter of 2010. The CdTe thin-film leader noted that the sales decline was primarily due to lower average selling prices, which in turn were due to policy uncertainties in Italy, Germany and France, leading to weaker-than-expected demand.
One of the largest solar PV power plants in North America will be expanded, nearly quadrupling its generating capacity in a few years. Pacific Gas and Electric and Sempra Generation have signed a 25-year contract for a 150MW (AC) expansion of Sempra Generation’s Copper Mountain Solar complex in Boulder City, NV. First Solar will provide millions of ground-mounted thin-film CdTe panels and serve as the engineering, procurement, and construction (EPC) contractor for the 1100-acre project.
Despite reports that Solar Frontier’s 900MW, CIS thin film production plant in Miyazaki, Japan has reached full capacity the company has said nothing of the sort. What Solar Frontier has said is that all production lines are now commercially operational having started its production ramp earlier this year. The Kunitomi Plant was said to be ‘on track to reach its targeted annual capacity of 900MW as average module output continues to increase, without giving a timeline. The Kunitomi Plant is said to be Japan’s largest solar module production facility, as well as the largest CIS factory in the world.
