First Solar (FSLR): New Power Plant Deal An "Incremental Positive"

Yesterday, First Solar (FSLR) announced a 10MW power plant deal with Sempra Generation in Nevada that will, according to AmTech, likely represent ~$50M in revenue. FSLR will design, engineer, construct, and provide monitoring and maintenance for the system. AmTech sees this contract as more evidence that FSLR will be the company to capitalise on the nascent US solar utility market:

Accelerating traction in the US power plant segment for FSLR specifically (So Cal Ed deal, enXco deals) and the industry in general (FPL [Florida Power & Light] and SPWR deal) is an important incremental positive. We expect adoption in the US to further accelerate following a resolution in the Federal ITC. FSLR remains the best suited solar producer to enter the US utility/power plant market on a large scale basis due to significant cost advantage versus peers on a module basis.

AmTech reiterates BUY on First Solar (FSLR)

See Also:
Latest First Solar (FSLR) News and Analysis


NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.