First Solar took over more than 200 megawatts worth of OptiSolar projects in Ontario. Recurrent Energy just purchased a solar project pipeline from Chicago-based UPC Solar that is based mostly in Ontario. SunEdison, EDF Energies Nouvelles, and Axio Power are also in the game. Meawhile, Martin Roscheisen of Nanosolar says his company is seriously considering Ontario as the location of a regional module assembly facility. Ontario’s newly proposed solar feed-in tariffs, which range from 44.3 cents per kilowatt-hour for large ground-mount systems to 80.2 cents for residential rooftop, “could tip the balance in favour of investment in Ontario,” said Roscheisen.

For more details read Toronto Star article here.

First Solar’s purchase of OptiSolar’s project pipeline for $400 million in stock is a shrewd move during these uncertain economic times. To have more than 2,000 megawatts of solar projects in the pipeline — confirmed or under advanced negotiations — is a coup for the company. Land rights that offer the potential for 19 gigawatts is icing on the cake.

A lot of attention has focused on OptiSolar’s 550 megawatt PG&E project being transferred to First Solar. What hasn’t been discussed in all the media coverage, however, is what this means for the 200 megawatts or so of OptiSolar projects being developed in Ontario, specifically around Sarnia. (more…)

Who knows what the next quarter will bring, but so far Montreal-based solar materials supplier 5N Plus Inc. is weathering the economic storm quite well. The company, a major supplier to First Solar, announced its second-quarter ended Nov. 30 results today and the record growth continues. 5N reported a net income of $5.8 million for the period, a 377 per cent increase compared to the previous year. Revenues jumped 167 per cent to $18.14 million. More than that, the 12-month order backlog sits at $54.7 million,  a record level.

Nice to see some positive news for a change. The stock jumped 8 per cent today and is up 71 per cent since reaching its low in the fall. Still, it’s off by more than 50 per cent since July so there could be some good upside. No wonder the company has cleared the way to repurchase its own shares.