Evergreen Update

A couple of reports on Evergreen came out recently. First they announced their 3Q financial results. I also ran across a BusinessWire article about Evergreen expanding its Czech Republic operations.

2Q showed results of Evergreen shifting manufacturing from Masachussetts to China. Included in the 3Q financial news was that total manufacturing cost at Devens facility decreased 3.1 percent to $1.88 per watt from $1.94 per watt in the second quarter of 2010. This is still high considering the costs of Chinese c-Si-based modules. At the same time, the firm's new Wuhan, China facility produced 3.4 megawatts of Evergreen-branded solar panels.

The BW article wrote that Evergreen is providing solar panels for nine Czech Republic solar plants. Evergreen says this fits perfectly with the company's strategy to expand its presence in Europe. Due to the excellent local infrastructure and the sunny cool climate, the country provides ideal conditions for the installation of solar plants.

First Solar Cleared to Start Ordos Project?

Reuters is quoting the 21st Century Business Herald on Wednesday as saying First Solar has received approval from the Chinese government to start preparatory work on their 30 MW Ordos project. This is coming from 'unnamed sources' and I am taking it with a huge grain of salt. To add to my skepticism, the paper said First Solar still needs to submit a feasibility study to the NDRC.

I had heard from my unnamed sources that the project is dead. Reuters quoted 'local media'in August as saying the project would not begin until 2011.

First Solar is still saying it expects the plant to eventually have a production capacity of 2 GW in four stages, with total investment expected to reach $4-6 billion by 2019.