First Solar, Inc. (NASDAQ: FSLR) and Suntech Power Holdings Co., Ltd. (NYSE: STP) to Jointly Power a Landmark Middle Eastern Solar Project

With the giant sell-off in the markets today, as Obama sweared-in, many solar stocks are suffering, STP and JASO are taking the big hits while FSLR and SOLF are having a normal down day.

Considering the normally high volatility of solarstocks, it could be worse, since the S&P500 and NASDAQ are down more than 4.5%

Some yesterday's news:

Rival photovoltaic (PV) modules manufacturers, First Solar, Inc. (NASDAQ:FSLR ) and Suntech Power Holdings Co., Ltd. (NYSE: STP ) will complement their efforts to power a $15 billion futuristic city of Masdar, under construction in Abu Dhabi, United Arab Emirates.

The firms have been approved by Masdar Abu Dhabi Future Energy Company to supply 5 MW of thin film solar modules each, for a 10 MW solar power farm that is being developed by Enviromena Power Systems based in the oil-rich Abu Dhabi emirate. Expected to be the biggest in the whole of Middle East region, the system will generate electricity for what is supposed to be the world’s only carbon neutral and zero-waste city.

Solar energy will be used as a first choice power solution by more than 50 000 residents and 1 500 businesses that are expected to be part of Masdar upon its completion. Electric travel pods, waste and water recycling, as well as natural ventilation, will be some of the environmentally friendly measures to be used in the city.

Source

Labels: First Solar Inc, FSLR, NASDAQ, News, Solar Plant, Solar power, Solar Projects, SP500, STP, Suntech Power

posted by Ertai at 3:07 PM