Update: First Solar set for change

First Solar will no longer just offer a

First Solar will no longer just offer a "Cadillac" product

Investors piled onto First Solar after it pivoted strongly to a new technology-focused strategy, unveiling an ambitious development plan for its Cadmium Telluride (CdTe) modules, and buying a California start-up focused on high-efficiency cells.

Shares in the US thin-film giant stormed up more than 45% on 9 April after chief executive Jim Hughes – handed the reins last spring – acknowledged past mistakes at the company, while insisting that CdTe is the right technology for the emerging subsidy-free era of PV.

Having lost money last year on its $3.4bn of sales, First Solar cheered investors by announcing it will return to profitability in 2013 on revenues of $3.8bn-$4.0bn – growing to $4.2bn-$4.8bn by 2015.

Hughes noted the perception among many analysts that First Solar has become too Log in to read complete article.

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