Saturday, March 22, 2014: With solar implementations gaining global mileage, the power trend for such plants is shifting to smaller solar farms. US-based First Solar Inc. is reportedly encouraging itself to install small solar systems on various industrial sites and warehouses. The company is seeking deals in regions like India, Saudi Arabia, and South America.
According to a Bloomberg report, Jim Hughes, the chief executive officer at First Solar said that by following projections in smaller solar implementations or customised solar systems; it is likely to raise the company sales by almost 36 per cent in the coming three years. Hughes made the statement at an analyst event in New York, yesterday.
First Solar aims to raise its income to $4.50 – $6 per share in 2015, from $2.20 – $2.60 in 2014. US’ largest solar panel maker got 65 per cent of its sales from selling large solar farms to utilities in 2013. Hughes said it is looking for deals in other international regions that include India, Saudi Arabia, and South America. It also anticipates more demand in US for commercial and industrial rooftops.
“We’re more confident than ever that we can compete for rooftops. Quite possibly it will be our biggest growth segment, but we’re starting from a small base,” said Hughes. The company commissioned 10.66 GW of solar power bookings by the end of 2013, which includes 5.9 GW outside US. First Solar is further targeting to sell solar panels to various mine operators in remote areas or other industries, which rely on diesel generators, in the new target countries.
