S&P 500
7,582.20
+0.03%
Dow Jones
51,018.80
+0.58%
Nasdaq 100
30,344.40
+0.25%
Russell 2000
2,916.31
-0.54%
FTSE 100
10,378.60
-0.32%
Nikkei 225
66,231.90
+0.67%

Energy

First Solar Sells Another Solar Energy Project

Photo of Paul Ausick
By Paul Ausick Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Solar Farm Desert

Thinkstock
First Solar Inc. (NASDAQ: FSLR) said today that it has sold its Campo Verde solar energy project to a subsidiary of Southern Company (NYSE: SO) and Turner Renewable Energy. The sale price was not announced. The two buyers purchased their first solar energy plant from First Solar in 2010 — a 30-megawatt project in New Mexico.

The solar energy project covers 1,443 acres in Imperial County, California, and will generate enough electricity to power 48,000 homes while displacing 80,000 metric tons of carbon dioxide emissions annually.

First Solar, which began construction on the solar energy project late last year, expects the 139-megawatt installation to be in operation by the fall of this year. Under the sale agreement, First Solar will operate and maintain the plant for 10 years. The electricity generated by the plant has already been acquired by San Diego Gas & Electric Co. under a 20-year power purchase agreement.

First Solar noted that it will not recognize revenue from the sale until the plant begins commercial operation.

Shares of First Solar are up more than 3% in mid-afternoon trading today, at $39.90 in a 52-week range of $11.43 to $41.00.

DISCLOSURE:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org). Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 30 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org). There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options  Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement This should not be considered a recommendation to participate in IPOs and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation. New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For more information on the allocation process please visit IPO Allocation.
Follow 24/7 Wall St. on Google
Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Continue Reading

Jon C. Ogg |

Beyond Solar Death… More Federal Loan Guarantees For Solar (UTX, SRE, STP, FSLR, NVE, PLD, BAC)

Despite the debacle with a $535 million loan guarantee to now-bankrupt Solyndra, the US Department of Energy is pressing ahead…

Paul Ausick |

Buffet Buys a Solar Project (BRK-A, FSLR, PCG)

MidAmerican Energy Holdings Co., a subsidiary of Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK-A) has acquired the Topaz solar far…

Paul Ausick |

Why First Solar and SunPower Had to Form 8point3

8point3 Energy Partners, a joint venture of First Solar and SunPower, has filed a preliminary prospectus for an initial public…

Paul Ausick |

New First Solar Project Bumps Shares (FSLR, NRG, BRK-A)

Thin-film solar panel maker First Solar Inc. (NASDAQ: FSLR) yesterday announced an agreement to build the 26-megawatt Avra Valley solar…

Paul Ausick |

First Solar Shares Rise … Just Because

Shares of First Solar Inc. (NASDAQ: FSLR) are up about 8% in the early afternoon on the company’s announcement that…

Paul Ausick |

SunEdison California Solar Project Gets $145 Million Financing From Google

SunEdison has said that Google agreed to provide $145 million in equity financing for the Regulus solar power plant to…

Douglas A. McIntyre |

First Solar Makes a Sale (ENB, FSLR, YGE, TSL, STP)

Canadian oil and gas pipeline company Enbridge Inc. (NYSE:ENB) today announced that it would purchase a 20 megawatt solar generation…

Douglas A. McIntyre |

First Solar Becomes Predator (FSLR)

It may seem a very gutsy call considering the economy, even in the Obama-favorite of the solar sector.  But First…

Jon C. Ogg |

Alternative Energy Watch: Google Invests in More Wind; Another Federal Loan Guarantee; Clean Energy Acquisitions (GOOG, EIX, GE, FSYS, RTK, AMRS, CDXS, FTFL, AMAT, LCRX)

Today’s wrap-up of alt energy news includes a look at the latest investment by Google Inc. (NASDAQ: GOOG) in wind…

Top Gaining Stocks

Dell Technologies
DELL • Vol: 42,366,555
NetApp
NTAP • Vol: 15,911,807
ServiceNow
NOW • Vol: 68,243,561
IBM
IBM • Vol: 28,527,546
Hewlett Packard Enterprise
HPE • Vol: 86,996,387

Top Losing Stocks

Coterra Energy
CTRA • Vol: 73,319,495
Clorox
CLX • Vol: 4,744,001
ResMed
RMD • Vol: 3,526,686
Intel
INTC • Vol: 191,680,425
Skyworks Solutions
SWKS • Vol: 5,407,806