First Solar Lands
Massive China Deal
First Solar has made a massive breakthrough that will see them gainfully employed for many years to come. The company has signed a Memorandum Of Understanding with the Chinese government to build a 2000 MW solar power station in the desert of Inner Mongolia that is due for completion in 2019. A 30 MW demonstration project will begin construction by June 2010 and the overall goal is to provide over 11 gigawatts of solar and wind electricity to Ordos City. The 2000MW component will be the largest solar power station to date.Chinese government subsidies for solar enterprises have made this massive scale project possible. The completion of the project is dependent on these subsidies remaining in place. This is unlikely to change, since the Chinese government is taking seriously the need to generate clean energy for the present and for the future. The thin film technology employed by the US based firm seems to have given it the competitive edge over its rivals. The company is likely to build a factory in China in order to produce the panels locally as well as save on some labor costs. Overall the solar project is estimated to cost between $5 and $6 billion. This sounds like a lot, but when compared to the economic stimulus and Wall Street bail out spending already used in the US, this figure looks tiny. When you consider that this project will provide enough power for around three million homes, it's starting to look pretty green. To see the original press release, click here.
10 September 2009
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