First Solar FSLR to Build China Solar Plant

September 8, 2009 - Huge News out of First Solar, Inc. (FSLR) just released about 20 minutes ago. Besides the fact that FSLR is back over the 10 day moving average today, shares are soaring on the following news. Another reason why technical analysis can tip you off on when to get back into a stock. I added to my long position today and am very happy and well positioned.


First Solar to Team With Ordos City on Major Solar Power Plant in China Desert

First Solar today announced a memorandum of understanding (MOU) with the Chinese government to build a 2 gigawatt solar power plant in Ordos City, Inner Mongolia, China.

Pursuant to the MOU, signed in the presence of Chairman Wu Bangguo of the Standing Committee of the National People's Congress of China, the solar project in Ordos will be built over a multi-year period. Phase 1 will be a 30 megawatt demonstration project that will begin construction by June 1, 2010 and be completed as soon thereafter as practicable. Phases 2, 3 and 4 will be 100 megawatts, 870 megawatts, and 1,000 megawatts. Phases 2 and 3 will be completed in 2014 and Phase 4 will be completed by 2019.

“This major commitment to solar power is a direct result of the progressive energy policies being adopted in China to create a sustainable, long-term market for solar and a low carbon future for China,” First Solar CEO Mike Ahearn said at the signing ceremony. “We’re proud to be announcing this precedent-setting project today. It represents an encouraging step forward toward the mass-scale deployment of solar power worldwide to help mitigate climate change concerns.”

The project will operate under a feed-in-tariff which will guarantee the pricing of electricity produced by the power plant over a long-term period. Full Article

For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free