If we can find a buyer, it’s certainly ready to start, OptiSolar’s Vice President of communications Alan Bernheimer said. But it’s going to take a buyer with resources, cash flow, the ability to invest in research and development.
In 2008 summer, OptiSolar announced that it would build a solar power plant capable of generating a maximum of 550 megawatt. Pacific Gas and Electric Company agreed to buy the electricity from the plant, to be built in San Luis Obispo county.
Credit crisis has lowered the ability of companies to find funding for their projects. Earlier in March 2009, OptiSolar sold its portfolio of planned but not built power plants to First Solar, Inc. for $400 million in stock. Rather than develop power plants, the company would concentrate on making and selling its ultra-thin solar panels.
The experience of OptiSolar’s is reflection of the solar industry’s recent, stunning change in fortunes.
