BNET Industries

Market Cap:$10.3B
Last Fiscal Year Sales:$1.2B
- Public
- US
Dow Jones Description
We design and manufacture solar modules using a proprietary thin film semiconductor technology that has allowed us to reduce our average solar module manufacturing costs to among the lowest in the world. Our average manufacturing costs were $1.40 per Watt in 2006 and $1.29 per Watt in the first three months of 2007, which we believe were significantly less than those of traditional crystalline silicon solar module manufacturers. We are the first company to integrate non-silicon thin film technology into high volume low cost production. Our manufacturing process transforms an inexpensive 2ft x 4ft (60cm x 120cm) sheet of glass into a complete solar module in less than three hours, using approximately 1% of the semiconductor material used to produce traditional crystalline silicon solar modules. Our ability to attract customers with competitive pricing, in combination with our replicable low cost manufacturing process, afforded us a gross margin of 40% in 2006 and 45% in the first three months of 2007. By continuing to expand production and improve our technology and manufacturing process, we believe that we can further reduce our manufacturing costs per Watt and improve our cost advantage over traditional crystalline silicon solar module manufacturers. ...
Number of Employees 3,524
Contact Information
350 W Washington St Ste 600
Phoenix, Arizona 85281-1244
(602) 414-9300
Peer Companies
NAICS Code Semiconductor and Related Device Manufacturing: 334413
Recent Events
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Solar Panel Makers Seek Local Ties
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Department of Energy Program to Boost Solar
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NRG Energy Acquires Largest Photovoltaic Solar Power Plant in
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Analyst Upgrades for November 18th
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Solar Pricing Hits the Sweet Spot
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Are U.S. solar jobs here to stay? Senators fight for a yes.
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FBR Capital Cuts Price Target & Estimates on First Solar FSLR
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First Solar downgraded to "above average"
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BofA Merrill Downgrades First Solar FSLR to Neutral, Price Target Cut to $135
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Highlights From FSLR's Q3 Conference Call: Revenues Fall $45 Million From Last Quarter, Guides In-line...
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First Solar: Ups and Downs
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First Solar Q3 Profit Tops Estimates, But Sales Miss View; Shares Dip - Update
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Investors Hope First Solar FSLR Can Show Them the Light in Q3
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Solar Sector Had a Hot Third Quarter
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Macquarie Upgrades YGE to Outperform, SPWRA to Neutral; Downgrades FSLR to Neutral, STP to Underperform
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STOCKS NEWS US-Procter & Gamble options swell before earns
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Pacific Crest Downgrades First Solar FSLR to Sector Perform
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Enbridge to acquire First Solar energy project
News & Analysis
Filter by
first solar inc. and sunpower corp. - All News and Analysis
Solar Energy Is Up - But Wind Power Is Also Surging
Paul Carton ChangeWave Alliance submits: ChangeWave's latest survey of the alternative energy industry shows Solar has experienced the most rapid economic growth over the past 12 months - but Wind Power is also surging and has the most momentum going forward. The survey - which focused on industry...
Has the Sun Set on Solar Energy Stocks?
Dr. Duru submits: The recent collapse in prices in solar stocks has moved most solar stocks back into correlation with oil prices. My missive on September 1 observing the divergence between solar stocks and oil prices now appears very ill timed! To dramatize the rapid shift in just a...
Solar's Brightest Companies Named; Sector Outlook Is Dim
Greentech Media submits: By Ucilia Wang A weeklong gathering of solar companies in Spain ended Friday with predictions of a tough year ahead. Solar companies announced deal after deal to impress investors as 715 companies and more than 20,000 attendees gathered at the European Photovoltaic Solar Energy Conference in...
While the Solar Sector Bottoms in the Near Term, LDK Solar Stands Out
Kelvin Schulle submits: After one week of selloffs in solar stocks, the sector becomes attractive again for the near term. Even in bear market territory, a short term rally can be vicious. I have been bearish on the solar sector for a while since the peak earnings season. There are...
Rough Day for Solar Stocks
Eric Savitz (Barron's) submits: Solar stocks are having another rough day, one which looks all that much worse with the Dow Jones Industrial Average up well over 200 points. A number of analysts Monday morning wrote notes on their trips to the recent European solar conference in Valencia, Spain....
SunPower, Solar Stocks Hit By Panel Price Prediction
Eric Savitz (Barron's) submits: SunPower SPWR shares are trading sharply lower after CEO Thomas Werner said he expects prices for solar panels to drop by 10%-20% next year. Werner made the comment in an interview with Reuters at a solar conference in Valencia, Spain. That forecast is consistent...
Three Reasons the Solar Sell-off May Be in the Early Innings
Kelvin Schulle submits: Renewable energy had a great run over the last month when oil was seen stable at the $115 level. Suntech STP gained almost 50% from $32 to $49, SunPower SPWR gained almost 40%, LDK Solar LDK gained about 50% and Energy Conversion Devices ENER is up...
Solar Breaks Oil Price Dependence
Dr. Duru submits: On July 13, 2008, I worried that skepticism in the high price of oil, as demonstrated by the surge in short interest in USO, would translate into a further sell-off for solar stocks. While oil topped at that time, solar stocks experienced a resurgence. Earnings news...
The Trouble with Chinese Solar Companies
John Cordes submits: Chinese solar companies are beset with undervaluation and undecipherable volatility in spite of amazing growth in sales, net income and future contract commitments. It even seems irrational to many amateur investors, who can't determine the logic for comparative valuation to stocks like First Solar FSLR and SunPower...
Solarfun's Huge Run: Time To Lock in Solar Profits
Kelvin Schulle submits: Solarfun SOLF had stunning run last week, up almost 30% in 4 days. Investors chose to take profit and sell into this rally. From an investment point oif view, this rally shows a lack of fundamental support. Actually, the big investors started pulling out on Thursday...
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Decision Makers
| Name (plus bio) | Position |
|---|---|
| Michael J. Ahearn | CEO |
| Rob Gillette | Chief Executive Officer |
| George A. Hambro | Chief Operating Officer |
| Jens Meyerhoff | Chief Financial Officer |
| James R. Miller | Executive Vice President, Product & Global Supply Chain Mgmt |
| John Carrington | Executive Vice President, Global Marketing & Business Development |
| John T. Gaffney | General Counsel & Executive Vice President |
| Carol Campbell | Vice President, HR |
| I. Paul Kacir | Secretary & Vice President |
| Larry Polizzotto | Vice President, IR |
| Mary Beth Gustafsson | General Counsel & Vice President |
| Mary Gustafsson | Vice President, General Counsel |
| Paul Kacir | Vice President, General Counsel |
| James F. Nolan | Consultant |
| Richard Rocheleau | |
| T Walton John | |
| Bruce Sohn | President |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| J. Thomas Presby | Chairman |
| Michael T. Sweeney | Board of Directors |
| R Craig Kennedy | Board of Directors |
Michael J. Ahearn has served as the CEO and Chairman of First Solar since August 2000. He served as President of First Solar from August 2000 to March 2007. Since 1996, he has been Partner and President of the equity investment firm, JWMA (formerly True North Partners, L.L.C.), the majority stockholder of First Solar. Prior to joining JWMA, Mr. Ahearn practiced law as a partner in the firm of Gallagher & Kennedy. He received both a B.A. in Finance and a J.D. from Arizona State University.
| Organization | Position | Status |
|---|---|---|
| First Solar, Inc. | CEO | Current |
| Renewable Energy Finance Forum-Wall Street | Chief Executive Officer, First Solar | Current |
| Gunther Portfolio | Chief Executive Officer, Chairman | Current |
| First Solar, Inc. | President | Current |
| First Solar, Inc. | Partner | Current |
| First Solar, Inc. | Chairman | Current |
| Jwma | Partner and President | Former |
| First Solar, Inc. | Board of Directors | Former |
| Arizona State University | J.D. | Former |
| Arizona State University | B.A. In Finance | Former |
| Organization | Position | Status |
|---|---|---|
| First Solar, Inc. | Chief Executive Officer | Current |
| Honeywell Aerospace | President & Chief Executive Officer | Former |
| Honeywell Corporation | President & CEO, Aerospace Business | Former |
| Honeywell Turbotechnologies | President | Former |
| Honeywell International Inc. | Vice President Strategic Growth | Former |
| Honeywell International Inc. | General Manager Strategic Growth | Former |
| Honeywell Aerospace | President | Former |
| Indiana University | Bachelor's Degree In Finance | Former |
George A. (Chip) Hambro joined First Solar in June 2001 as Vice President of Engineering, was named Vice President and General Manager in February 2003 and assumed the role of Chief Operating Officer in February 2005. Prior to joining First Solar, he held the positions of Vice President of Engineering & Business Development for Goodrich Aerospace from May 1999 to June 2001 and Vice President of Operations for ITT Industries from February 1997 to May 1999. Mr. Hambro graduated from the University of California at Berkeley with a B.A. in Physical Science (Applied Physics).
| Organization | Position | Status |
|---|---|---|
| First Solar, Inc. | Chief Operating Officer | Current |
| First Solar, Inc. | Vice President and General Manager | Former |
| University of California, Berkeley | B.A. In Physical Science (Applied Physics | Former |
Jens Meyerhoff joined First Solar in May 2006 as Chief Financial Officer. Prior to joining First Solar, Mr. Meyerhoff was the Chief Financial Officer of Virage Logic Corporation, a leader in embedded infrastructure intellectual property, from January 2006 to May 2006. Mr. Meyerhoff was employed by FormFactor, Inc., a manufacturer of advanced wafer probe cards, as Chief Operating Officer from April 2004 to July 2005, Senior Vice President of Operations from January 2003 to April 2004 and Chief Financial Officer from August 2000 to March 2005. Prior to joining FormFactor, Inc., Mr. Meyerhoff was the Chief Financial Officer and Senior Vice President of Materials at Siliconix Incorporated, a manufacturer of power and analog semiconductor devices, from March 1998 to August 2000. Mr. Meyerhoff holds a German Wirtschaftsinformatiker degree, which is the equivalent of a Finance and Information Technology degree, from Daimler Benz' Executive Training Program.
| Organization | Position | Status |
|---|---|---|
| Gunther Portfolio | Chief Financial Officer | Current |
| First Solar, Inc. | Chief Financial Officer | Current |
| Virage Logic Corporation | Chief Financial Officer | Former |
| FormFactor, Inc. | Chief Operating Officer | Former |
| Siliconix Incorporated | Chief Financial Officer | Former |
| Siliconix Incorporated | Senior Vice President of Materials | Former |
| FormFactor, Inc. | Senior Vice President of Operations | Former |
| Organization | Position | Status |
|---|---|---|
| First Solar, Inc. | Executive Vice President, Product & Global Supply Chain Mgmt | Current |
John Carrington joined First Solar in May 2008 as Executive Vice President, Global Marketing & Business Development. Mr. Carrington brings extensive global marketing experience from his leadership positions with General Electric spanning more than 15 years. Mr. Carrington previously served as general manager and chief marketing officer of General Electric Plastics (recently sold and re-named SABIC Innovative Plastics). While at GE, he also served as General Manager of automotive marketing in Tokyo, Japan; Pacific Marketing Director in Tokyo; and Commercial Director for GE's Noryl resin business in Selkirk, New York. John holds a BA in Economics & Marketing from the University of Colorado.
| Organization | Position | Status |
|---|---|---|
| First Solar, Inc. | Executive Vice President, Global Marketing & Business Development | Current |
| University of Colorado | BA In Economics & Marketing | Former |
John Gaffney joined First Solar in January 2008 as Executive Vice President and General Counsel. Mr. Gaffney leads First Solar's legal, corporate development, government affairs, and corporate communications activities. Mr. Gaffney was formerly a partner at Cravath, Swaine & Moore LLP where he advised numerous corporate and financial institution clients on merger, acquisition and capital markets transactions. Mr. Gaffney received a B.A. from George Washington University and a J.D. and an M.B.A. from New York University.
| Organization | Position | Status |
|---|---|---|
| First Solar, Inc. | General Counsel & Executive Vice President | Current |
| New York University | J.D. | Former |
| New York University | M.B.A. | Former |
| The George Washington University | B.A. | Former |
Carol Campbell joined First Solar in March 2006 as Director of Human Resources and was named Vice President of Human Resources in March 2007. Prior to joining First Solar, she was the Regional Director of Human Resources for North America at the Dana Corporation, where she was responsible for all Dana plants in the US, Canada, and Mexico. Ms. Campbell was with Dana for 20 years, progressing through levels of greater responsibility in the Legal and Human Resource Departments. She has her Professional Human Resources certification through the Society of Human Resources Management and has extensive experience successfully developing and running highly effective HR organizations in complex and rapidly changing environments. She graduated Magna Cum Laude from Heidelberg College with a B.S. degree in Business.
| Organization | Position | Status |
|---|---|---|
| First Solar, Inc. | Vice President, HR | Current |
| First Solar, Inc. | Director of Human Resources | Current |
| Dana Holding Corporation | Regional Director of Human Resources | Former |
| Heidelberg College | B.S. Degree In Business | Former |
| Organization | Position | Status |
|---|---|---|
| First Solar, Inc. | Secretary & Vice President | Current |
| Organization | Position | Status |
|---|---|---|
| First Solar, Inc. | Vice President, IR | Current |
Mary Beth Gustafsson joined First Solar in October 2008 as Vice President, General Counsel. Ms. Gustafsson was previously Senior Vice President, General Counsel and Secretary of Trane (formerly American Standard Companies, Inc.). Prior to that, she held roles as Chief Counsel of Trane's commercial and residential air conditioning systems business worldwide and Chief Corporate Counsel for corporate legal activities, including acquisitions, joint ventures and alliances, financing transactions, corporate governance and public company regulation. Mary Beth has a bachelor's degree in English Literature from Boston University, and a Juris Doctor degree from The University of Michigan Law School.
| Organization | Position | Status |
|---|---|---|
| First Solar, Inc. | General Counsel & Vice President | Current |
| Organization | Position | Status |
|---|---|---|
| American Standard Companies, Inc. | Senior Vice President | Current |
| American Standard Inc. | Senior Vice President, General Counsel & Secretary | Current |
| First Solar, Inc. | Vice President, General Counsel | Current |
| American Standard Companies, Inc. | Secretary | Current |
| Honeywell Corporation | Chief Counsel | Former |
| Honeywell International Inc. | chief counsel | Former |
| American Standard Companies, Inc. | Chief Counsel for Trane | Former |
| American Standard Companies, Inc. | General Counsel | Former |
| Honeywell Corporation | Counsel | Former |
| First Solar, Inc. | General Counsel | Former |
| The University of Michigan Law School | Juris Doctor degree | Former |
| Boston University | Bachelor's Degree In English Literature | Former |
| Organization | Position | Status |
|---|---|---|
| University of New Brunswick | J.D | Former |
| University of British Columbia | M.B.A. | Former |
| The University of Western Ontario | B.A. In Economics | Former |
| Organization | Position | Status |
|---|---|---|
| First Solar, Inc. | Consultant | Current |
| Glasstech Inc. | Current | |
| Westinghouse | Current | |
| Photonics Systems, Inc. | Current | |
| Owens-Illinois, Inc. | Current | |
| Gunther Portfolio | Director | Current |
| First Solar, Inc. | Director | Current |
| Solar Cells Ltd. | Vice President of Operations | Former |
| First Solar, Inc. | Vice President of Operations | Former |
| First Solar, Inc. | Elected A Director | Former |
| University of Pittsburgh | Doctorate In Physics | Former |
| University of Scranton | B.S. In Physics | Former |
Dr. Rocheleau is the director of the Hawaii Natural Energy Institute (HNEI) of the University of Hawaii designated as a US Department of Energy Center of Excellence. At HNEI Dr. Rocheleau has established the HNEI Thin Films Laboratory and developed a research program focused on thin film photovoltaics and renewable hydrogen production having near-term applications in both the commercial and military sectors. Dr. Rocheleau also serves as the PI of several programs including the Hawaii Energy and Environmental Technology Initiative; and the Hawaii Hydrogen Center for the Development and Deployment of Distributed Energy Systems. He is the author of over 30 publications in peer reviewed journals and over 20 conference proceedings in the areas of photovoltaics, photo electrochemical hydrogen production, and thin-film electronic materials. Dr. Rocheleau also holds six patents and three patent disclosures. Leveraging his extensive scientific and leadership capabilities he has led teams of scientists/engineers in multi-disciplinary programs providing contract research and development of PV and semiconductor manufacturing processes for a number of domestic and international firms including, Chronar Corporation, Solarex, First Solar, Trex Enterprises, and Global Solar Inc. Dr. Rocheleau received his BChE and PhD (1980) in Chemical Engineering from the University of Delaware and a M.S. in Ocean Engineering (1977) from the University of Hawaii.
| Organization | Position | Status |
|---|---|---|
| Border and Port Security | Member | Current |
| Trex Enterprises Corporation | Current | |
| First Solar, Inc. | Current | |
| University of Hawaii | Director | Current |
| University of Delaware | PhD (1980) In Chemical Engineering | Former |
| University of Hawaii | M.S. In Ocean Engineering (1977) | Former |
| University of Hawaii | Bche | Former |
| University of Delaware | Bche | Former |
| Organization | Position | Status |
|---|---|---|
| First Solar, Inc. | Current |
| Organization | Position | Status |
|---|---|---|
| Amvescap Group Services, Inc. | Current | |
| First Solar, Inc. | Chairman | Current |
| World Fuel Services Corporation | Chairman | Current |
| Tiffany & Co. | Chairman | Current |
| World Fuel Services Corporation | Board of Directors | Current |
| First Solar, Inc. | Board of Directors | Current |
| Gunther Portfolio | Director | Current |
| World Fuel Services Corporation | Member | Current |
| American Eagle Outfitters, Inc. | Member | Current |
| Deloitte Touche Tohmatsu | chief operating officer | Former |
| First Solar, Inc. | Elected A Director | Former |
| Deloitte Touche Tohmatsu | deputy chairman | Former |
| Tiffany & Co. | Board of Directors | Former |
| American Eagle Outfitters, Inc. | Director | Former |
| Carnegie Mellon University | M.S. in industrial administration | Former |
| Rutgers University | B.S. in electrical engineering | Former |
Array
| Organization | Position | Status |
|---|---|---|
| Gunther Portfolio | President | Current |
| First Solar, Inc. | Board of Directors | Current |
| Gunther Portfolio | Board of Directors | Current |
| Ieee | Board of Directors | Current |
| First Solar, Inc. | Elected A Director | Former |
Mike was recruited by the company's founders in 2000. When Mike joined the firm, he brought with him a wealth of experience in both operating management and corporate finance roles, most recently as President of Starbucks Coffee Company (UK) Ltd. in London. Prior to his international corporate leadership experience, Mike spent several years as an entrepreneur developing and selling franchise companies for both Blockbuster Video and Papa John's Pizza. While he was at Blockbuster, he had the opportunity to work closely with Goldner Hawn when it became the business' lead investor. Mike's career in corporate finance also includes Merrill Lynch in New York and Phoenix and a boutique investment banking business he launched, built and sold. Mike currently serves on the board of Goldner Hawn portfolio companies Allen-Edmonds and Transport America. He also holds a board position at the Guthrie Theater, and formerly, at the Walker Art Center. Mike is also a director at First Solar Corporation.
| Organization | Position | Status |
|---|---|---|
| Goldner Hawn Johnson & Morrison Inc. | Managing Partner | Current |
| Wilsons The Leather Experts Inc. | Managing Partner of Goldner Hawn | Current |
| Transport Corporation of America, Inc. | Board of Directors | Current |
| Wilsons The Leather Experts Inc. | Board of Directors | Current |
| Gunther Portfolio | Director | Current |
| Allen-Edmonds Shoe Corp. | Board of Directors | Current |
| Vitality Foodservice Inc. | Board of Directors | Current |
| First Solar, Inc. | Board of Directors | Current |
| First Solar, Inc. | Committee Member | Current |
| Starbucks Corporation | President | Former |
| Goldner Hawn Johnson & Morrison Inc. | Managing Director | Former |
| Merrill Lynch & Co., Inc. | NA | Former |
| First Solar, Inc. | Independent Director | Former |
| Swarthmore College | graduate | Former |
| Organization | Position | Status |
|---|---|---|
| First Solar, Inc. | Board of Directors | Current |
Executive News
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Solar taps potential with 2GW plant
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Chinese Government Commits to World's Largest Solar Power Project
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First Solar Names CEO
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First Solar, China Near Deal To Build Huge Solar Field
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U.S. Solar Firm Cracks Chinese Market
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UPDATE: First Solar To Build 2-Gigawatt Plant In China
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First Solar Agrees To Build 2-Gigawatt Plant In China
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Arizona firm in deal to spread sun power to China
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First Solar empfängt Delegation der chinesischen Führung auf ihrer Suche nach nachhaltigen Energielösungen
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U.S. Company and China Plan Solar Project
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China Signs Deal With First Solar
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First Solar to build huge Chinese solar plant
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First Solar to Team With Ordos City on Major Solar Power Plant in China Desert
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First Solar gets initial approval for China project
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First Solar to start largest solar power plant in Ordos, China
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First Solar Hosts Chinese National Leadership Delegation Seeking Sustainable Energy Solutions
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First Solar Hosts Chinese National Leadership Delegation Seeking Sustainable Energy Solutions
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First Solar gets visit from Chinese leaders
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Spanish Cut Subsidies for Solar Power
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First Solar Names New CEO
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