First Solar Inc., the world’s largest maker of thin-film solar power modules, agreed to take over a portfolio of utility-sized projects from closely held OptiSolar for $400 million in stock to expand sales in the U.S.
The projects include a 550-megawatt plant being developed for San Francisco-based PG&E Corp., a group of 1,300 megawatts of utility orders under negotiation and land rights on about 136,000 acres that could handle up to 19,000 megawatts, Phoenix-based First Solar said in a statement today.
First Solar last week reduced its sales forecast for the year because of the recession and that it plans to invest in some projects for which customers have been unable to secure financing on their own....
...Purchasing OptiSolar’s projects will reduce per-share profit this year by 35 cents to 40 cents because of stock dilution and transaction costs, Ahearn said. The projects will add 600 megawatts to 700 megawatts of solar module sales from 2010 to 2013, he said....MORE