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BUSINESS
May 22, 2009 | Times Staff and Wire Reports
Pacific Gas & Electric Co., the utility owned by PG&E Corp. of San Francisco, won approval from regulators for a solar power contract with Sempra Generation, a unit of Sempra Energy of San Diego. Under a 20-year contract, Pacific Gas will buy power from a 10-megawatt photovoltaic solar plant in Boulder City, Nev. Sempra and First Solar Inc. said in April that they would expand the facility by 48 megawatts using First Solar's thin-film technology. The California Public Utilities Commission approved the contract at its meeting in San Francisco.
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BUSINESS
June 23, 2012 | Bloomberg News
Shares of First Solar soared after the biggest maker of thin-film solar panels got permission to continue construction on a $1.36-billion power project in Los Angeles County. Shares of First Solar Inc. soared after the biggest maker of thin-film solar panels received permission to continue construction on a $1.36-billion power project in Los Angeles County. First Solar had the biggest increase among the companies in the Standard & Poor's 500 index Friday, rising 9.2% to $15.88.
BUSINESS
November 24, 2010 | By Marc Lifsher, Los Angeles Times
The Los Angeles County Board of Supervisors denied a request from Northrop Grumman Corp. to delay final approval of a major solar project in the Antelope Valley near the military contractor's facility for testing radar-evading stealth aircraft. On a voice vote, supervisors rejected Northrop's appeal Tuesday, opting to let plans for the 2,100-acre complex of photovoltaic solar panels proceed. Final approval is expected Dec. 7. The company argued that the project would "adversely impact the military mission" of the sensitive, 1970s-era testing center, just south of the Tehachapi Mountains in Kern County.
BUSINESS
December 7, 2011 | Bloomberg News
Warren Buffett's MidAmerican Energy Holdings utility agreed to buy the $2 billion Topaz project in California, branching into solar power after the industry was battered by stock markets around the world. The Topaz Solar Farm will be one of the world's largest photovoltaic power plants and is being developed by the seller, First Solar Inc. of Tempe, Ariz. Terms weren't disclosed. The project's 550- megawatt capacity is equal to about half a new nuclear reactor. Buffett's Iowa-based utility, which entered clean energy buying U.S. wind farms and a stake in Chinese electric-car producer BYD Co., struck the deal Wednesday after First Solar failed to get a U.S. government loan guarantee for the project that will use First Solar's thin-film solar panels.
BUSINESS
April 30, 2012 | By Tiffany Hsu
SolarCity Corp., a Bay Area solar panel developer and installer whose chairman heads Tesla Motors Inc., is planning an IPO. The San Mateo company's intention to go public come as other alternative energy firms are backing away from similar growth plans, even after the industry reported record growth last year. First Solar Inc. said this month that it would close down some of its factories and trim 2,000 positions . Oakland's BrightSource Energy Inc. scrapped its IPO plans a few weeks ago. After Solyndra's bankruptcy last year focused an unflattering spotlight on the solar business, SolarCity and other companies gave up hope for federal loan guarantees.
BUSINESS
June 22, 2012 | By Tiffany Hsu
First Solar Inc. is restarting work on one of the biggest construction projects in Los Angeles County after resolving a code conflict with the public works department. The nearly $1.4-billion Antelope Valley Solar Ranch One project was put on hold as the county checked that the thin-film solar panels being installed met certification, health and safety requirements. Tempe, Ariz.-based First Solar put some workers on furlough during the period but now says it plans to ramp up its workforce over the next few weeks.
BUSINESS
March 3, 2009 | Marla Dickerson
Stunted by the nation's credit freeze, troubled OptiSolar Inc. of Hayward, Calif., has agreed to sell its portfolio of unfinished solar farms to one of the hottest firms in the solar industry. First Solar Inc. said Monday that it would pay OptiSolar $400 million in First Solar stock to buy the outstanding projects, which the Tempe, Ariz., company intends to complete. The portfolio includes a planned 550-megawatt facility in San Luis Obispo County known as the Topaz Solar Farm.
BUSINESS
April 17, 2012 | By Tiffany Hsu
In what executives now call a "fundamentally changed" solar industry, thin-film panel maker First Solar Inc. is closing down factories and cutting 2,000 workers. The layoffs represent 30% of the Tempe, Ariz.-based company's global workforce. First Solar is also planning to close down a factory in Frankfurt, Germany, later this year while indefinitely idling four production lines at its facility in Kulim, Malaysia, on May 1. The workforce reductions, which will cost First Solar up to $70 million in severance, will also reach employees in the U.S. The scale-back is expected to save the solar giant as much as $60 million this year and then up to $120 million a year after.
BUSINESS
January 5, 2012 | Bloomberg
Solar Millennium AG's insolvency administrator is seeking to sell parts or all of the German developer of sun-powered plants. Volker Boehm of Schulze & Braun said today in a statement that it's seeking buyers for the company's 60 or so project units and stakes, including Oakland-based Solar Trust of America LLC, which is planning the world's biggest solar plant. Solar Trust currently has multiple projects in development across the southwestern U.S., including the world's largest permitted solar power plant facility near Blythe, CA. The Blythe Solar Power Project will deliver 1,000 Megawatts (MW)
BUSINESS
October 26, 2011 | From Reuters
California political leaders chose a site near the headquarters of Solyndra to kick off hearings on how the state's growing clean-tech industry can proceed in the wake of that solar company's dramatic collapse. The U.S. solar industry is reeling now that its standout champion, First Solar Inc, just ousted its chief executive and warned on profits in the face of the same stiff Chinese competition that felled Solyndra. Yet people who "had never supported clean tech" should not be allowed to use Solyndra against the sector and its backers, state Senate Majority Leader Ellen Corbett (D-San Leandro)
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