Thursday, May 1, 2008

First Solar poised to enter utility market

This was the potential positive I mentioned in "Thoughts on First Solar 1st Quarter Results (FSLR)". I didn't listen to the conference call and just started reading the transcript. More later. The stock is down $7.00 pre-market. I'm pretty sure I was the only blogger with the headline "First Solar Disappoints on Nine-fold Earnings Growth (FSLR)", in our first FSLR post yesterday.

From the Arizona Republic:

Tempe-based First Solar Inc. officials said Wednesday that the company could be close to breaking into the U.S. utility market with a solar power plant application pending in California.

Company officials disclosed few details of the project while discussing first-quarter sales, which rose nearly 200 percent from the same time in 2007 as First Solar continued to expand overseas manufacturing plants....

...CEO Michael Ahearn said the company predicts more growth in its main European markets, where most First Solar panels are installed, as well as the United States.

"Our objectives in 2008 are to secure several (U.S.) pilot projects that will enable us to validate the cost and performance of our large-scale systems," Ahearn said. "Our assumption . . . is that demand for utility-scale solar power exists in the Southwest U.S. at solar-electric prices in the range of 12 to 15 cents per kilowatt hour.">>>MORE

HT: Environmental Capital