TED TURNER SELLS SOLAR BIZ

Why First Solar would want Ted Turner’s emerging solar company is obvious: First Solar has all year been acquiring and is rapidly becoming a giant in the solar industry.

But why did Turner sell? It isn’t likely he needed financing. 2 theories: (1) After a big splash with his new West Coast expansion at Solar Power 2007 in September, he saw how expensive it would be to play in the big western market against the Silicon Valley Clean Tech giants and decided to cash out; OR, (2) He got to the point with photovoltaic installation development where he realized the place to be is thin film, First Solar’s specialty, and decided to send his company in that direction.

OR, does Turner have something new and different in mind? (He usually does.)

First Solar buys firm with ties to Ted Turner
December 1, 2007 (Toledo Blade)

WHO
First Solar Inc., Turner Renewable Energy LLC (aka DT Solar, previously Dome-Tech Solar) (Ted Turner, owner)

Turner made Time's cover for staying ahead of the pack. So what does he know now? (click to enlarge)

WHAT
Turner Renewable sold out to First Solar and will become First Solar Electric LLC.

WHEN
Deal announced November 30.

WHERE
- The Turner solar business was based in Branchburg, NJ.
- First Solar was founded in Toledo, OH, but is presently based in Phoenix, AZ.

Could the solar energy industry be evolving away from photovoltaic panels to solar thermal and thin film? Is that why Turner made the move?

WHY
- Turner Renewable’s largest western installations were photovoltaic. First Solar was a pioneer in and specializes in thin film.
- First Solar has research and manufacturing operations in Perrysburg Township, NJ,
- First Solar paid $34 million in cash and stock.

QUOTES
First Solar executives’ written statement: “[First Solar] will gain a team experienced in development and operation of power plants and energy marketing.”