First Solar Inc. (FSLR), The Tempe,AZ based solar giant said it will increase its production capacity to meet the increasing hunger for PV Modules, despite a low price margin crunch in the global solar module market.
First solar had previously planned in May to cut the production in 2012 to 1,400 megawatts from 1,700 megawatts. But after a favourable Quarter the company plans to produce about 1800-1900 MW's of Solar panels.
According to Wall street journal, First solar had sold nearly 2,000MW of solar farms to U.S. utilities such as NRG Energy Inc., Exelon Corp. and MidAmerican Energy Holdings, and has about 900 megawatts of projects which are not yet sold. Top among those is a 139-megawatt project in Imperial County, California called Campo Verde Solar.
First Solar also said that it has inked supply deals with companies in Australia and India, and is focused on expanding into South America and the Middle East, while continuing to do deals in its primary markets in the U.S., Canada and Europe.