First Solar Hits 1GW Of Total Production

First Solar (FSLR) announced a milestone today. It’s produced 1 GW worth of solar modules since the company began in 2002.

The 1GW of power is equal to a small nuclear power plant, or enough energy to power a city like San Fransisco. It took First Solar 6 years to produce its first 500MW, but just six months to produce the next 500MW. The company is on pace to produce 1GW annually now.

This is another piece of good news for the Arizona based company. Earlier this month, the company picked up OptiSolar’s projects for $400M in an all stock transaction. After it reported a very good fourth quarter for 08, the company announced that it only cost them 98 cents a watt to produce panels.

Yesterday the stock led a strong solar rally, rising $6.

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