First Solar shares dip 19 percent

By Ryan Randazzo

The Arizona Republic

Shares of Tempe-based First Solar Inc. fell $4.53, or about 19 percent, Thursday following reports the company stopped delivering panels to the Agua Caliente power plant under construction in Yuma County that is ahead of schedule.

Shares closed at $19.67, and have ranged from $11.43 to $99.50 in the last year.

First Solar spokesman Ted Meyer said construction is continuing at the power plant, with about 200 workers on site, and that module shipments have “shifted” to other large power plants the company is building.

NRG Solar will own the 290-megawatt Agua Caliente plant, which received a $967 million loan guarantee from the Energy Department. NRG will sell the power from the plant to Pacific Gas and Electric Co.

The plant is using First Solar’s panels.

Continued:

Also:

Italian Solar Generation Surpasses Wind for First Time/Renewable Energy World

Plague of Broken Contracts Frays Cotton Market/The Wall Street Journal

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August 31, 2012

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