First Solar: Investors Love Our Solar Power Projects


Things are looking up for First Solar (s FSLR), at least for now, as the company announced Wednesday a big jump in sales and profits for the second quarter and touted itself as a sought-after power project developer.

“We have more investors seeking to buy projects than we have to sell them,” said James Hughes, who became First Solar’s CEO earlier this year, during a conference call with analysts. “We have more than 10 bidders vying to purchase the Campo Verde project.” The company announced the 139 MW Campos Verde project in California only shortly before it released its earnings.

Hughes’ positive note was accompanied by good financial results: First Solar posted $957 million in sales for the second quarter, nearly doubling the $532.8 million in sales from the year-ago period. First Solar posted about $111 million in net income, or $1.27 per share, for the second quarter, compared with…

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