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

Exclusive: China ready to cut rates again on fears of deflation - sourcesExclusive: China ready to cut rates again on fears of deflation - sources
BEIJING (Reuters) - China`s leadership and central bank are ready to cut interest rates again and also loosen lending restrictions, concerned that falling prices could trigger a surge in debt defaul...
Falling inflation a worry for Europe but also the worldFalling inflation a worry for Europe but also the world
LONDON (Reuters) - European Central Bank President Mario Draghi has moved closer to launching sovereign debt purchases and data this week will show just how dangerously low inflation has fallen in t...
Countdown to missed opportunity for EU economyCountdown to missed opportunity for EU economy
PARIS (Reuters) - The countdown has begun to what threatens to be a missed opportunity to revive Europe`s stalled economy. When European Union leaders meet on Dec. 18-19 under new management, they...
Sweden's Wallenberg dynasty prepares for sixth generationSweden's Wallenberg dynasty prepares for sixth generation
STOCKHOLM (Reuters) - Jacob Wallenberg, the 58-year-old head of one of Europe`s most enduring family dynasties, is trying to work out how the empire controlling much of Sweden`s economy could look w...
China rate cut knocks legs from under yuan rally, more volatility seenChina rate cut knocks legs from under yuan rally, more volatility seen
SHANGHAI (Reuters) - China`s surprise interest rate cut is another step toward softening the country`s exchange rate, setting the yuan on course to end the year lower for the first time since its la...

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