First Solar To Supply Panels For 50 MW Of Projects In India
India is continuing to be a hot market for solar as First Solar (FSLR :NASDAQ) is the latest company to enjoy its spoils. The Arizona-based solar manufacturer is working with Kiran Energy Solar Power Pvt. Ltd. and Mahindra Solar One Pvt. Ltd.to supply 50 megawatts (MW) of solar panels for two plants.
First Solar will be shipping the panels for the 30 MW and 20 MW plants this year as construction on both is expected to be completed in Q1 2013.
India’s Jawaharlal Nehru National Solar Mission (NSM) is currently working on it’s second group of solar projects, of which these two plants fall under. By 2022 the NSM is seeking to install 22,000 MW of solar power.
With India’s ambitious goal for solar energy, we expect successful companies to continue developing projects there as Europe continues to cool down.
Shares of First Solar were up 0.95 percent today.