Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


First Solar - FSLR - Acquires Chilean Project Developer Solar Chile

Wednesday, January 9, 2013 1:31 PM
First Solar, Inc. (Nasdaq: FSLR) and Fundación Chile announced that First Solar has acquired Solar Chile, a Santiago-based solar development company in which Fundación Chile was an early investor. This culminates a strategic working alliance the two companies formed in Oct. 2011. Solar Chile has a portfolio of early- to mid-stage utility-scale photovoltaic (PV) power projects totaling about 1.5 gigawatts (GW) in Regions I, II, III, and XV in northern Chile, including the Atacama Desert region, which offers the highest solar irradiance in the world. "We have been very impressed by the quality of the Solar Chile team and the projects they are developing, and we believe that together we will bring even more value to the Chilean market," said Jim Hughes, First Solar CEO. "Combining Solar Chile's market knowledge and promising project portfolio with First Solar's resources, technology and strong execution track record offers Chile a rapid and proven path to add significant solar generation capacity, helping to meet high energy demand and support economic growth." "First Solar's acquisition of Solar Chile is a milestone of enormous significance to our country," said Alvaro Fischer, President of Fundación Chile. "It highlights the tremendous potential that solar PV energy has to change the demography and the economy of northern Chile, opening it up to new opportunities beyond mining and fishing, into water desalinization, hydrogen production or large green data centers." "Chile faces a growing energy demand from its sustained economic growth," said Hernán Cheyre, Executive Vice-President of CORFO, the Chilean government's economic development agency. "Solar energy provides a sustainable and clean energy source that takes advantage of our outstanding clear skies and irradiance. The growth of the solar industry and the arrival of First Solar validates Chile´s position as a regional hub for entrepreneurship and innovation." First Solar has a global development pipeline of projects under contract to utilities totaling 3 GW, with 2 GW under construction. It has constructed more than 600 megawatts of PV power projects worldwide. Under the terms of the agreement, the five-person Solar Chile team is joining First Solar, and Fundación Chile will provide ongoing consultation services. Terms of the transaction were not disclosed. About First Solar - FSLR First Solar (FSLR) is a leading global provider of comprehensive photovoltaic (PV) solar systems which use its advanced thin-film modules. FSLR's integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation today. From raw material sourcing through end-of-life module collection and recycling, FSLR's renewable energy systems protect and enhance the environment.
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2014 the year you get RICH!

Latest Headlines

Asia shares climb on U.S. optimism, oil pressured before OPECAsia shares climb on U.S. optimism, oil pressured before OPEC
TOKYO (Reuters) - Asian stocks edged up on Wednesday after data showing the U.S. economy growing at a relatively solid pace calmed investor anxiety over slowing global growth, while the Australian d...
Carl Icahn raises stake in car rental company HertzCarl Icahn raises stake in car rental company Hertz
(Reuters) - Activist investor Carl Icahn raised his stake in U.S. car rental company Hertz Global Holdings Inc to 10.77 percent from 8.48 percent. The billionaire was already Hertz`s largest shareho...
Australian dollar hit hard as others enjoy an easier timeAustralian dollar hit hard as others enjoy an easier time
SYDNEY (Reuters) - The Australian dollar hovered at a four-year low early on Wednesday, having been singled out by sellers in an otherwise aimless currency market ahead of the U.S. Thanksgiving holi...
Weak enterprise demand hurts HP's fourth-quarter revenueWeak enterprise demand hurts HP's fourth-quarter revenue
(Reuters) - Hewlett-Packard Co reported a 2.5 percent drop in quarterly revenue, hurt by weak sales to enterprise customers. Revenue fell to $28.41 billion in the fourth quarter ended Oct. 31 from $...
HP fourth-quarter revenue drops on weak enterprise demandHP fourth-quarter revenue drops on weak enterprise demand
(Reuters) - Hewlett-Packard Co said its quarterly revenue fell in almost every business segment over the year, highlighting weaknesses ahead of the company`s planned 2015 separation of its enterpris...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.

Algorithm Based
Trade Signals
arrow
small cap swing trades SmallCaps stocks under $10
Index Signals Index Signals SPY, QQQ, DIA, IWM
options trading Mega Stocks options + stock trade signals
Forex Forex Signals major FX pairs signals