Is First Solar Inc (NASDAQ:FSLR) Wasting Capital?
First Solar, Inc (NASDAQ:FSLR) has acquired the 250MW AC-photovoltaic Moapa Solar Project located in Nevada, from K Road Power Holdings LLC. This project is situated in Clark County’s Moapa River Indian Reservation and lies to the north-east of Las Vegas in Nevada. This is the 1st large scale solar-project that has received approval to be constructed and developed on North American tribal land.
This advanced-stage project has a 25 year PPA in place, with the LA Department of Water & Power.
This project will stand within the 2,000-acre section of the Moapa strip of Paiutes tribal-land. The construction may commence in the 2013 Q4 and is slated to reach completion by 2015 end. The projection is that this project will create almost 400 jobs when construction is at peak-levels. There will be 10 permanent jobs at the actual power plant once it becomes operational. The designing and construction of the project will be handled by First Solar, Inc (NASDAQ:FSLR) and the company will be using the Cadmium Telluride thin-film solar modules in its construction.
In Thursday’s trading, First Solar, Inc (NASDAQ:FSLR) rose by 0.15%. The opening price of the company’s shares was $41.05 which climbed to an intraday high of $41.65 and dropped to a close of $40.45. Close to 4.39 million shares were traded on Thursday and an average volume of 3.52 million shares was traded over a 30 day period. The 52-week low of the shares is $19.68 and the 52-week high is $59.00. First Solar, Inc (NASDAQ:FSLR) has a market capitalization of 3.95 billion.
About the company
First Solar, Inc (NASDAQ:FSLR) is a manufacturer and seller of photovoltaic solar modules. These modules operate on an advanced thin film semi-conductor technology. The company is involved in designing, constructing and selling PV solar-power systems.
First Solar, Inc (NASDAQ:FSLR) operates in 2 business segments: the Components segment and the Systems segment.