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First Solar Abandons Plans for World’s Biggest Solar PV Plant in China

First Solar Abandons Plans for World’s Biggest Solar PV Plant in China

First Solar Inc. won’t be building the world’s largest solar plant in China after more than four years of negotiations on pricing failed to produce an agreement.

First Solar had planned to build the 2,000-megawatt Ordos project in Inner Mongolia and sell the output to China’s power grid. Terms for selling the power were never agreed to, said Steve Krum, a spokesman for Tempe, Arizona-based First Solar.

“Due to the market environment, we aren’t going to pursue the Ordos project further,” Krum said today in an interview. The plant was never included in the company’s pipeline of contracted projects, he said.

Ordos was First Solar’s first foray into China, the world’s largest producer of both solar panels and greenhouse gases. First Solar agreed to build the project and consider opening a manufacturing plant in the region in a memorandum of understanding with Chinese officials on Sept. 8, 2009.

First Solar rose 13 percent the day the plan was announced. The shares fell 0.5 percent to $63.38 at 12:29 p.m. today in New York.

Copyright 2014 Bloomberg. covered the story when it was originally announced.  Our coverage of the September 9, 2009 Memorandum of Understanding is here with the most recent announcement below.

Story from November 18, 2009

First Solar & Ordos Take Next Step Toward 2-GW China Project

First Solar Inc. has reached a cooperation framework agreement with the Chinese government that takes another critical step towards the realization of the world's largest solar power plant in the autonomous region of Inner Mongolia, China.

First Solar President Bruce Sohn and Mayor Yun Guangzhong of the Ordos City Government signed the Cooperation Framework Agreement in the presence of Chinese Vice Premier Li Keqiang, Vice Minister Liu Qi of the National Energy Administration, and U.S. Secretary of Energy Steven Chu.



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Volume 18, Issue 3


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