First Solar Jumps over 10% after LA County Approves Solar Installations
Shares of First Solar (NASDAQ: FSLR) are seeing increased strength during Friday's trading session after the approval to install solar panels for a power plant in LA Country.
The Los Angeles County Department of Public Works and First Solar have reached an agreement on the installation of solar modules at the Solar Ranch One photovoltaic power plant currently under construction in the Antelope Valley.
This deal allows First Solar to continue development activities of the 230-megawatt power plant that, when completed in 2013, will generate enough electricity to power 75,000 homes. Installation of the modules had been delayed while First Solar and Public Works worked to achieve agreement related to the module code certifications.
First Solar plans to increase staffing for the project over the next several weeks.
Currently, shares of First Solar are trading up about 9% at $15.88 per share.
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