Dallas, Texas 11/26/2013 (Financialstrend) – Move Away From Nuclear Power
Over the past two years, Japan has been reeling under the after effects of a natural disaster in the form of an earth quake which wrecked havoc with its nuclear power generation program. Since then the country has been struggling to cope with the spectre of impending nuclear disaster. This is because Fukushima Dai-ichi nuclear power plant even though closed down since it started to leak radioactive material into the atmosphere has been presenting the Japanese government with a growing headache on how to dismantle the nuclear plant safely.
First Solar Commences Construction
Hence the announcement yesterday from First Solar, Inc. (NASDAQ:FSLR) that it has started the construction of a huge solar farm with peak production capacity of 1.4 MWDC would have come as welcome news to policy makers and the population of Japan . The solar power plant is expected to start power generation from the first quarter of 2014 and is located in the Kitakyushu-shi province of Japan. The farm will be built by leveraging First Solar, Inc. (NASDAQ:FSLR) proprietary tech “CdTe thin film PV modules” which is expected to quicken the construction phase of the project. This project by First Solar is being seen by external commentators as Japan’s new efforts to move away from nuclear energy towards “clean and safe solar power”.
Commenting about the commencement of the project First Solar, Inc. (NASDAQ:FSLR) CCO Joseph Kishkill has been quoted as saying, “This project illustrates First Solars capability to develop and build solar power plants in Japan. We are honoured to begin our long-term strategic investment in Japan with the Kitakyushu-shi project.”
First Solar, Inc. (NASDAQ:FSLR) along with its peers like SunPower Corporation (NASDAQ:SPWR) would be trying to hoping that the move by Japan towards solar energy would add to their companies prospects.