First Solar, Exelon Receive Antelope Energy Department Funds

April 6, 2012 by  
Filed under Green Energy News

First Solar Inc. (FSLR), the biggest maker
of thin-film solar panels, received funding from the U.S. Energy
Department that paves the way for Exelon Corp. (EXC) to complete its
acquisition of the Antilope Valley Solar Ranch One $1.36 billion
power project.

First Solar got the first advance under the loan guarantee
program, the Tempe, Arizona-based company said today in a
statement.

Exelon Corp. in September agreed to buy the 230-megawatt
plant from First Solar for $75 million, contingent upon
government funding. The Chicago-based power company said it will
invest as much as $713 million in the project.

Construction of the plant is being partly funded by a $646
million Energy Department loan guarantee that had been delayed
by a local permitting issue.

First Solar was down 2.7 percent to $21.15 as 2:07 p.m. in
New York. The shares have declined 86 percent over the past
year. Exelon slipped 1.3 percent to $38.40.

To contact the reporter on this story:
Christopher Martin in New York at
cmartin11@bloomberg.net

To contact the editor responsible for this story:
Reed Landberg at
landberg@bloomberg.net

Please enable JavaScript to view the comments powered by Disqus.

Comments are closed.