First Solar (FSLR) Shares Rise as Investors Cheer LA County's Approval of Solar Ranch One Plant

June 22, 2012 9:44 AM EDT
Investors in First Solar (Nasdaq: FSLR) are cheering Friday morning, potentially on the heels of a release from the company announcing LA County has approved the installation of solar modules at the Solar Ranch One photovoltaic power plant currently under construction in the Antelope Valley.

The deal will enable First Solar to continue construction activities of the 230-megawatt power plant that, when completed in 2013, will generate enough electricity to power 75,000 homes.

Shares of First Solar are above the $15 level this morning, currently up about 8.5 percent. The stock last traded at $15.80.

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