Boston, MA 04/08/2014 (wallstreetpr) – The Company First Solar, Inc. (NASDAQ:FSLR) has had an amazing start this year with opening of new projects and entering into great investments. With all the its efforts the company has succeeded to create a bright future for itself and sooner or later the world will witness the era of the rise of solar power and solar power plants across the globe. One of the leading producers of solar energy will be First Solar.
Moapa Paiute Tribal Solar Project
First Solar, Inc. (NASDAQ:FSLR) has entered into a new project called the Moapa Southern Paiute Solar Project along with the Los Angeles Department of Water and Power and the Moapa Band of Paiutes. This project will be built to have a production capacity of 250 Megawatt. This project is estimated to provide clean solar energy to the City of Los Angeles for 25 years.
Harry Reid, the U.S. Senate Majority Leader joined the executives and representatives from the companies to celebrate this project and revealed that this project has the capacity to displace around 313k metric tons of Carbon Dioxide on an annual basis which is equivalent to removing around 60k cars from the road. The Solar Plant will have the power to meet the energy requirements of 93k homes. The main reason for setting up this project is to relieve the city of its coal usage and use a renewable energy source instead.
Skeptical About Australian Investments
First Solar, Inc. (NASDAQ:FSLR) which is planning to build the largest solar plant in the southern hemisphere of the world is not sure of its future investments in Australia because the Australian Government’s uncertainty over the Renewable Energy Target.
The Company had planned to take up a solar power project in the New South Wales with a capacity to light up around 50k homes. Jack Curtis, the Vice President of business development at First Solar, Inc. (NASDAQ:FSLR) said that this project was finalized almost a year ago and since the change in the political scenario of the nation there has been a lot of uncertainty regarding projects like these.
