ADVFN - Advanced Financial Network.
HOME» NASDAQ » F » FSLR Stock Price » FSLR Stock News

First Solar Share News

 First Solar (mm) Stock Price
FSLR Stock Price
 First Solar (mm) Stock Chart
FSLR Stock Chart
 First Solar (mm) Stock News
FSLR Stock News
 First Solar (mm) Company Information
FSLR Company Information
 First Solar (mm) Stock Trades
FSLR Stock Trades

Court Approves NextEra Energy, BrightSource Solar Farm Sales

By Cassandra Sweet and Katy Stech A Delaware bankruptcy court on Wednesday approved the sale of two large, unbuilt California solar-power plants from Solar Trust of America to NextEra Energy Inc. (NEE) and BrightSource Energy. NextEra Energy, which owns Florida Power & Light and a fleet of power plants and wind and solar farms, bid $50 million for a 1,000-megawatt solar power project called Blythe, according to court records and California documents. Solar Trust filed for Chapter 11 bankruptcy protection in April, several months after its majority owner, Solar Millennium AG (S2M.XE), filed for insolvency in Germany. The filings were among a string of bankruptcies by solar companies that struggled against falling prices and a glut of cheap solar panels made in China. Solar-power developer BrightSource, of Oakland, Calif., offered $10 million for a second Solar Trust project in the California desert, called Palen. BrightSource is building a 392-megawatt solar-power plant called Ivanpah in the California desert and has several other projects under development. The company, which is backed by VantagePoint Capital Partners and other investors, canceled its planned initial public offering in April, blaming poor market conditions. NextEra, of Juno Beach, Fla., is building a 250-megawatt solar-thermal power plant in California that will use curved mirrors to collect heat to drive power generators. The company obtained an $852 million federal loan guarantee to build that project. NextEra bought a large solar farm last year from First Solar Inc. (FSLR), called Desert Sunlight, for which the companies obtained a $1.5 billion loan guarantee. California regulators approved construction permits for both Solar Trust projects. The new owners may need approval from the California Energy Commission to modify the permits to use different technology. Solar Trust had received preliminary approval in 2011 for a $2.1 billion federal loan guarantee to build the Blythe solar-power plant using Solar Millennium's solar-thermal technology. The developer didn't receive final approval for the loan guarantee and in August 2011 said it would modify the project to use cheaper solar panels, rather than the curved mirrors and steam generators originally envisioned. Solar Trust filed for Chapter 11 a day after it was scheduled to make a $1 million rent payment to the U.S. Interior Department for occupying thousands of acres of public land. Company officials said the bankruptcy case was key for protecting transmission rights agreements the firm had reached with utilities, which made the projects valuable. The transmission rights also enabled the company to borrow more than $200 million from Edison International's (EIX) Southern California Edison utility, Solar Trust said in court papers. -Write to Cassandra Sweet at cassandra.sweet@dowjones.com and Katy Stech at katy.stech@dowjones.com

Stock News for First Solar (FSLR)
DateTimeHeadline
05/23/201518:00:02Why We're Thinking About Energy All Wrong
05/22/201517:31:08Specialized Disclosure Report (sd)
05/22/201516:23:56Statement of Changes in Beneficial Ownership (4)
05/22/201506:05:32Current Report Filing (8-k)
05/20/201512:15:10What Is the S&P 500 Index?
05/20/201508:05:02Warren Buffett: Friend or Foe to the Solar Industry?
05/19/201519:00:15Tim Cook is Making His Mark on Apple
05/16/201520:02:03Who Is the Richest Woman in the World?
05/07/201507:05:025 Things First Solar Inc.'s Management Wants You to Know
05/06/201517:08:12Statement of Changes in Beneficial Ownership (4)
05/06/201514:07:133 Safe Investments in Renewable Energy
05/05/201511:00:00Silicon Ranch Selects First Solar Technology for Aerojet Rocketdyne...
05/05/201509:38:28Zacks Lowers First Solar to Hold (FSLR)
05/04/201516:06:03Is Solar Energy Ready to Compete With Oil and Other Fossil Fuels?
05/01/201512:58:04First Solar's "Market Perform" Rating Reaffirmed at Raymond James...
05/01/201512:15:41SunPower Playing the Long Game in Solar Energy
05/01/201511:00:02Forget What Wall Street Says -- First Solar, Inc. Had a Great...
05/01/201506:27:23Quarterly Report (10-q)
05/01/201504:10:05Needham & Company LLC Cuts First Solar Price Target to $69.00...
04/30/201520:30:13First Solar Swings to a Loss -- Update

First Solar and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad