Three Solar Players Push Envelope With New U.S. Plants

First Solar Breaks Ground in Ohio

In other solar news, thin-film market leader First Solar (FSLR Quote) broke ground Monday on a factory-expansion project on its Perrysburg, Ohio facility. The project will boost the plant's capacity to about 192 megawatts.

Tempe, Ariz.-based First Solar pleased the market in July by reporting a 57 percent jump in net income and tripling of revenues in the second quarter of 2008.

But it and other solar companies have seen their shares slide this week amidst a deepening financial crisis that many fear may lead to a drying-up of credit for new solar facilities.

Shares of First Solar fell $31.71, or nearly 20 percent, to close at $128 per share on Tuesday.

First Solar, which has delivered strong financial performances, will likely to weather the financial storm, Bullard said.

"I think there may possibly be a flight to safety effect, with the best listed companies continuing to perform the best" in raising capital for expansions, he said.

SolarWorld Continues U.S. Expansion in Oregon

Also on Tuesday, Germany solar panel maker SolarWorld said it had opened its second U.S. manufacturing plant in Hillsboro, Ore. The former silicon chip plant, bought from Japan's Komatsu Group last year for $40 million and upgraded with more than $400 million, will have a capacity of 500 megawatts, the company announced.

In July, SolarWorld opened a 100-megawatt plant in Camarillo, Calif., that produces silicon solar panels and silicon ingots for its U.S. plants in Vancouver, Wash.

SolarWorld's chief financial officer Philipp Koecke told Bloomberg earlier this month that the private company had raised $800 million in cash and had $10 billion in orders.