First Solar Inc will not spin off its solar power plants into a separate, publicly traded entity as some of its competitors have done, its chief executive said on Thursday.The company's shares slid more than 6 percent after CEO Jim Hughes announced the decision on a conference call to discuss First Solar's third-quarter earnings.Several solar players, including SunEdison and NRG Energy, have bundled up solar assets and spun them off into vehicles known as 'yield cos.'These instruments own and operate solar assets that have long-term power contracts with utilities. That guarantees stable cash flows that are then paid out as dividends to investors or reinvested into new plants by the parent company.
First Solar, Inc. manufactures and sells photovoltaic (PV) solar modules with an advanced thin-film semiconductor technology, and it designs, constructs, and sells PV solar power systems. Shares of FSLR traded higher by 0.27% or $0.15/share to $56.41. In the past year, the shares have traded as low as $47.04 and as high as $74.84. On average, 2287000 shares of FSLR exchange hands on a given day and today's volume is recorded at 3149986.
NRG Energy, Inc. (NRG) is an integrated wholesale power generation and retail electricity company in the United States. Shares of NRG traded higher by 1.12% or $0.36/share to $32.63. In the past year, the shares have traded as low as $26.30 and as high as $38.09. On average, 4102550 shares of NRG exchange hands on a given day and today's volume is recorded at 6500816.
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