The company First Solar (NASDAQ FSLR), has just announced record profits, a consistent order book and the creation of new production sites.
The last two months alone have been very rich in surprises for the company First Solar. On the financial side first, the maker of solar panels without silicon thin films, announced Saturday, November 10 very good financial results for the third quarter of 2007. The result reached 159 million dollars, far higher than the 77.2 million for the second quarter. By way of comparison, for the same period in 2006, the output reached 40.8 million.
On the industrial society multiplies releases. After the announcement of the construction of an additional factory in Malaysia on September 27, to meet the growing demand for solar panels and meet their supply contracts the company announced Monday, November 5 the establishment of 4 new production sites Malaysia. Each unit will have a production capacity of 120 MW, and will enable First Solar in total 16 production units in Malaysia. Thus in the space of 2 months, the company greatly increases its production capacities and landed leader in the design of large-scale panels based on Cadmium telluride (CdTe).
Regarding supply contracts, their latest clients are Ecostream, EDF Energy and the New investment fund Babcock & Brown. These three actors are planning large projects in several European countries (France, Germany, Spain, Italy, Greece and Portugal). Ecostream-a subsidiary of Groupe Econcern- is a very important client and their supply contract covers 557 MW. They have extensive experience in the field of solar energy, and they offer reliable solutions in all areas of photovoltaics. One of their offerings is aimed at landowners and roofing and gives them the opportunity to install PV systems turnkey.
This avalanche of good news in a space of time also reduced confirms once again dramatically increased photovoltaic industry globally.
