North Coast Solar Stocks

December 8, 2009

Constellation Energy to build 16 MW solar project

Filed under: FSLR — Tags: , , , , — Jason @ 5:59 pm

Tue Dec 8, 2009 5:59pm EST

* Company to use thin film photovoltaic solar panels

* Shares of company flat in after-hours trading

LOS ANGELES, Dec 8 (Reuters) – Utility owner Constellation Energy Group (CEG) will build a solar power project of nearly 16 megawatts in Maryland and will sell the electricity generated to the state under a 20-year agreement, the company said on Tuesday.

The project accounts for the bulk of a $60 million, 17 MW solar facility that Constellation will build, own and operate on 100 acres of land leased from Mount St. Mary’s University in Emmitsburg, Maryland.

The company plans to use thin film photovoltaic solar panels that convert sunlight into electricity but did not
specify a particular supplier.

Tempe, Arizona-based First Solar Inc (FSLR) is the industry’s leading supplier of thin film solar technology as
its cadmium telluride-based panels are cheaper to produce.

Constellation plans to finish the project by December 2012, currently set to be the largest solar facility in Maryland. It will also sell 1.2 MW of the electricity to the university.

Constellation Energy also is working to develop a $140 million, 70-megawatt wind power project in Maryland.

Shares of Constellation Energy were flat in after-hours trading after closing down 1.4 percent at $33.02 on the New York Stock Exchange on Tuesday.

(Reporting by Laura Isensee, editing by Matthew Lewis)

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